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Inside Washington (06/02/2008)
* WASHINGTON (6/3/08)--The mortgage industry needs consistent regulation, said Office of Thrift Supervision (OTS) Director John Reich at a convention last week. Mortgage brokers and mortgage bankers are regulated unevenly by individual states, while federally supervised banks and thrifts must abide by nationwide standards. Reich said a “level playing field” must be created. “Establishing a partnership between the states and a federal regulator to set and enforce minimum mortgage funding standards would ensure accountability, consistency and transparency throughout the mortgage lending process,” he said, adding that the OTS is qualified to fill that role ...


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