Reforms for Mortgage Markets

The nation’s top economic policymakers, hoping to prevent a repeat of the excesses that led to the mortgage bubble and bust, on Thursday proposed a broad series of reforms aimed at tightening oversight of financial institutions. The changes include tougher disclosure requirements for banks and Wall Street firms, a nationwide licensing system for mortgage brokers and new rules for credit rating agencies, which have been widely criticized for failing to recognize major problems with mortgage-backed securities and for having potential conflicts of interest.

Reforms for Mortgage Markets lawfuel.com Fri, Mar 14, 2008