The headline might sound promising, but keep in mind that during the housing boom of 2003 to 2007, the industry averaged nearly $340 billion a year in home-equity originations.
The mortgage servicing market grew for 226 consecutive quarters from March 1951 (when the Fed started quarterly calculations) to the first quarter of 2008, when it peaked at $11.321 trillion.
Although much of the discussion about nonbank servicing standards has focused on capital, the CSBS framework will cover considerably more ground than that.