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Home » Ally Bucks Trend, Supports GSE Proposal to Radically Transform Servicing Compensation
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Ally Bucks Trend, Supports GSE Proposal to Radically Transform Servicing Compensation

January 19, 2012
Fannie Mae and Freddie Mac have drummed up little support for their controversial proposal to pay mortgage servicers a flat fee for performing loans, but one top-tier lender has stepped forward to publicly endorse the idea. Ally Financial in a comment letter to the Federal Housing Finance Agency said it supports the so-called fee-for-service proposal, combined with a policy that would provide for the separation of excess interest-only cash flows from the underlying mortgage servicing rights. The company, which ranked as the fifth-largest servicer in the market as of the end of September, did...
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