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April 17, 2014

NY DFS Probe of Nonbank Servicers Has Frozen Servicing Sales

By Brandon Ivey

The investigation by the New York Department of Financial Services of nonbank servicers including Nationstar Mortgage and Ocwen Financial has put a halt to servicing sales.

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.

47%

Yes, by a lot.

5%

Yes and, heck, we may even do non-QM lending.

14%

No, not at all.

26%

No and we may even tighten credit.

7%