The most recent regulatory foray has come from the Conference of State Bank Supervisors, which formed the Mortgage Servicing Rights Task Force to develop standards for nonbank servicers...
In short order, Wingspan faces a dilemma that many of its peers are facing: rapidly improving real estate values are snuffing out delinquencies and draining the supply of problem loans.
Mortgage regulators have sounded alarms and written new rules in response to the growing market share of nonbanks in the servicing market, but nonbank servicers were much more dominant 10 years ago. At the end of 2005, nonbanks accounted for 40.6 percent of mortgage servicing outstanding at the time. At the end of March 2015, nonbanks were making headlines because they had a combined 27.3 percent share of the market. …