More Wall Street Firms Tread Beyond Secondary Market Compliance Risk as They Acquire Mortgage Banking Units
September 14, 2006
Wall Street’s foray into lending and servicing is bringing a new twist to the mortgage business, but it’s unclear how the merging of primary and secondary market activities will shape investment bankers’ political and regulatory agenda. The recent spate of acquisitions by Wall Street investment banks means firms that have traditionally focused on secondary market issues now have to pay closer attention to state and federal efforts to regulate loan originators. In particular, some observers have questioned whether...