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FHFA Should Have Oversight of Nonbank Mortgage Servicers: GAO

FHFA Should Have Oversight of Nonbank Mortgage Servicers: GAO

Congress should consider giving direct authority over nonbank mortgage servicers to the Federal Housing Finance Agency, according to a report released Monday by the Government Accountability Office. The report said there should be "parity" among financial regulators in the oversight of regulated entities and third parties they do business with.

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