Volume 2014 - Number 16
April 24, 2014
Industry Grows Weary of MSR Snafus With Regulators, Wants Firm Policies and Procedures From FHFA, HUD
Two large acquisitions of mortgage servicing rights have been put on hold by regulators at the Federal Housing Finance Agency and Ginnie Mae, causing consternation in the secondary market. Moreover, according to trade group officials and advisors in the space, a deal needs to be struck between regulators and the industry that spells out the rules of the road when it comes to transferring MSRs from banks to their ultimate destination at nonbanks that are hungry for both product and market share. “We need an environment where servicing can be transferred...
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