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CHLA Opposes Designation of Any IMBs as Systemically Important Financial Institutions

CHLA responds to to the Financial Stability Oversight Council (FSOC) designating non-bank financial companies as systemically important financial institutions (SIFI). In their letter, CHLA emphasized that labeling any small to mid-sized servicers as SIFI would be inappropriate as they clearly do not pose any systemic risk as mortgage loan originators.