The Mortgage Bankers Association of America (MBA) testified this morning before the U.S. House of Representatives Financial Services Committee that it favored transferring regulatory oversight authority to the Dept. of the Treasury.

“MBA supports the administration’s proposal that the Department of the Treasury be given responsibility for safety and soundness regulation of the GSEs and that Treasury should have approval authority for new GSE programs and activities to ensure they are consistent with prudent financial management and sound business operations,” said John A. Courson, MBA chairman.

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