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Home » Mortgage Bankers Urge GSEs to Shelve Fee-for-Service Compensation Scheme
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Mortgage Bankers Urge GSEs to Shelve Fee-for-Service Compensation Scheme

December 15, 2011
Changing how mortgage lenders are paid for servicing Fannie Mae and Freddie Mac loans is ill-advised at this point because servicing requirements themselves are in flux, according to the Mortgage Bankers Association. Adopting the radical fee-for-service proposal advanced by the Federal Housing Finance Agency would be particularly disruptive for a market that’s still under a lot of strain, the industry group said in a letter to the FHFA. The FHFA is collecting industry feedback on reforms to servicer compensation that is now based on a minimum servicing fee paid out of...
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