Treasury Official Highlights SFIG Priorities in Housing Finance Reform

During recent remarks given at a Credit Risk Transfer Symposium in New York, Craig Phillips, Counselor to Treasury Secretary Mnuchin, touched on many of SFIG's key goals for reforming America's housing finance system.

In his speech, Phillips stated that the Trump Administration would like to see private capital take on a greater role in the secondary mortgage market, noting a need to reduce the government's footprint. Specifically, he pointed to the removal of unnecessary regulations as a step towards letting private market competition meet the needs of American homeowners. On this topic he gave particular focus to the PLS market as one that is currently constrained by excessive regulations.

SFIG has actively served as a source of information on the securitization industry for Mr. Phillips and the Treasury Department as they work towards completing their review of U.S. financial regulations. As a result of meeting with Mr. Phillips and other Treasury officials, SFIG provided the linked breakdown of Regulatory Burdens on the Securitization Industry to highlight overly burdensome and duplicative regulations affecting capital and liquidity across all asset classes. We will continue to engage with policy makers and regulators to ensure functioning, deep, and liquid markets within the securitization industry.

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