Thanks to today’s high loan balances, a 50-basis-point drop in rates can do wonders for the refi market, but is bad news for companies that have large servicing portfolios to unload...
State regulators proposed standards for nonbanks in 2015 but there was no follow-through. However, the issue is alive and well thanks to the incoming chairman of the Conference of State Bank Supervisors.
Asked to explain about debenture interest curtailment penalties and why servicing FHA nonperforming loans is more expensive than those of the GSEs, Carson replied: “I have not had that discussion. I will look it up.”