3 quick takeaways from the mortgage conference happening right now

3 quick takeaways from the mortgage conference happening right now

Tidbits from SourceMedia Mortgage Servicing conference

Stewart Information Services 1Q earnings suffer from mortgage reductions

Posts net loss of $12.1 million

New home sales plummet 14.5% in March

Spring buying season off with a whimper
W S

NY Fed reorganizes bank supervision for Dodd-Frank mandate

/ Print / Reprints /
| Share More
/ Text Size+
The Federal Reserve Bank of New York, which oversees some of the largest U.S. financial firms, has reorganized its bank supervision group to strengthen its oversight capabilities. The division has been renamed the Financial Institution Supervision Group, in a nod to the Fed’s expanded authority under the Dodd-Frank Act, according to the New York Fed’s website. The Dodd-Frank Act, signed into law by President Barack Obama in July, gave the Fed authority for overseeing non-bank financial firms deemed “too big to fail” because their collapse might pose a risk to the financial system. “Some of this is about changing a mindset internally, as well as reflecting externally that we have a broader mandate now under Dodd-Frank,” Sarah Dahlgren, who became head of the group on Jan. 1, told Bloomberg News on March 18 when asked about the changes. “We’re going to have to increase resources.”

Recent Articles by Jason Philyaw

Comments powered by Disqus