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Yellen Urges Action To Curb US Mortgage Market Risks

Janet Yellen United States FSOC

US Secretary of the Treasury Janet Yellen said vulnerabilities of nonbank mortgage companies can undermine financial stability (Credit: AFP)

US Treasury Secretary Janet Yellen flagged risks posed in the mortgage market Friday, as regulators released recommendations to address the sector's vulnerabilities.

"The vulnerabilities of nonbank mortgage companies can amplify shocks in the mortgage market and undermine financial stability," said Yellen at an open session of a Financial Stability Oversight Council (FSOC) meeting.

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