Servicers Doing Better since Fairbanks Deal, Moody’s Says
August 31, 2004
Subprime mortgage servicers have adjusted fairly well to life in the wake of federal enforcement actions that have reshaped their industry, a new report by Moody’s Investors Service suggests. “Residential mortgage servicers have been in the legal and regulatory spotlight the past year. Fortunately, many servicers have voluntarily responded to industry concerns in numerous ways to avoid unwanted scrutiny,” Moody’s said in an update that gauged the current compliance…