With the CFPB reportedly revisiting its 2024 proposed Regulation X servicing rule, the American Bankers Association reminded the bureau of several revisions it should consider.
Matt Tully, chief compliance and customer success officer at Sagent, said the mortgage industry wants Reg. X updates to reflect experiences over the last decade.
Fannie Mae is offering a new custodial bank account management application that impacts submissions of various forms to the GSE. Freddie Mac has adjusted the definitions of “change of control” and “senior management” at mortgage companies.
Federal bank regulators are looking to reduce the capital requirements that apply to mortgage servicing rights and to mortgages held in portfolio. A March proposal is seen as making mortgage lending and servicing somewhat more attractive for banks.
As a group, the five largest firms in terms of owned servicing lost market share during the first quarter of 2026. Much of the decline was due to Rocket Mortgage, the largest servicer in the industry. (Includes three data tables.)
As delinquencies rise, servicers will face increasing obligations for advances to MBS investors. Large servicers are expected to be able to handle the pressure while some smaller servicers could face difficulties.
Bob Broeksmit, president and CEO of the Mortgage Bankers Association, believes the Basel III re-proposal would allow banks engaged in the mortgage business to further expand their operations.
Some of the largest servicers of loans in Ginnie Mae mortgage-backed securities saw portfolios shrink in the first quarter, according to a new ranking and analysis by Inside FHA/VA Lending. (Includes four data tables.)