Industry Groups Worry About Possible CSP Control Transfer
September 30, 2016
Several special interest groups are worried that the common securitization platform could become part of a backdoor effort to “piecemeal” GSE reform via possible provisions to transfer CSP control to the private sector. The Community Home Lenders Association, Community Mortgage Lenders of America, and six other trade and civil rights groups penned a letter to Congress last week urging the House to not adopt individual provisions as riders to an FY 2017 funding bill or other “must-pass” legislation that they say could bias the final outcomes of an ultimate comprehensive GSE reform bill. Provisions to transfer control of the CSP to the private sector, and most likely the largest private financial institutions have not...