The changes are part of an extensive overhaul aimed at boosting the rural housing market, increasing the availability of rural home loans and spurring the construction of new homes in rural areas.
Fitch says nonbank servicers resolve delinquencies at a significantly faster pace than banks, partly due to the loss-mitigation requirements for the five big banks included in the $25 billion national servicing settlement.
Treasury could withhold HAMP incentive payments to CitiMortgage, but noted that after considering all relevant factors, it has chosen not to at this time.
A new report from FHFA confirms what small mortgage firms have long known: they can't catch much of break when it comes to Fannie Mae and Freddie Mac guaranty fees.