House Committee Reduces Proposed Risk-Retention Requirement for MBS to 5 Percent
November 23, 2009
The House Financial Services Committee this week loosened a controversial proposed mandatory risk-retention requirement for mortgages sold to the secondary market. The change occurred during markup of H.R. 3996, the Financial Stability Improvement Act, which addresses systemic risk and institutions deemed too big to fail. As originally written, H.R. 3996 would have required...