A key organization of state banking regulators will soon release a proposed framework for nonbank mortgage servicers, though how it is finally implemented is still up in the air. The Conference of State Bank Supervisors has put together a regulatory framework that covers 12 areas of servicing and is close to being issued for public comment, said Michael Stevens, senior executive vice president of the group, during a panel session at a mortgage servicing conference ...
With JPMorgan Chase slated to buy $45 billion worth of Fannie Mae rights from nonbank Ocwen Financial the shift in MSRs over to banks likely will continue...