FM Watch Statement Regarding Chairman Baker's Secondary Mortgage Market Enterprises Regulatory Improvement Act

Apr 04, 2001, 01:00 ET from FM Watch

    WASHINGTON, April 4 /PRNewswire/ -- FM Watch Executive Director Mike House
 issued the following statement regarding The Secondary Mortgage Market
 Enterprises Regulatory Improvement Act, sponsored by Rep. Richard H. Baker
 (R-LA), Chairman of the House Financial Services Subcommittee on Capital
 Markets, Insurance and Government Sponsored Enterprises.
     "FM Watch is very pleased with the direction and overall concept of
 Chairman Baker's legislation.  It is a balanced approach that protects
 taxpayers and consumers by making sure that the new GSE regulator has
 generally the same powers that bank regulators possess.  The Federal Reserve
 Board provides an independent regulator that is more resistant to political
 influence than the current process where politics dominates.
     We have long supported a single and suitable regulator with effective
 mission and debt authority over the GSEs.  We look forward to working with
 Chairman Baker to ensure that these aspects of the bill are protected and even
 strengthened."
 
 

SOURCE FM Watch
    WASHINGTON, April 4 /PRNewswire/ -- FM Watch Executive Director Mike House
 issued the following statement regarding The Secondary Mortgage Market
 Enterprises Regulatory Improvement Act, sponsored by Rep. Richard H. Baker
 (R-LA), Chairman of the House Financial Services Subcommittee on Capital
 Markets, Insurance and Government Sponsored Enterprises.
     "FM Watch is very pleased with the direction and overall concept of
 Chairman Baker's legislation.  It is a balanced approach that protects
 taxpayers and consumers by making sure that the new GSE regulator has
 generally the same powers that bank regulators possess.  The Federal Reserve
 Board provides an independent regulator that is more resistant to political
 influence than the current process where politics dominates.
     We have long supported a single and suitable regulator with effective
 mission and debt authority over the GSEs.  We look forward to working with
 Chairman Baker to ensure that these aspects of the bill are protected and even
 strengthened."
 
 SOURCE  FM Watch