The Federal Housing Finance Agency should immediately suspend assessments of compensatory fees for servicers that miss GSE foreclosure timeframes, according to a new letter from the Mortgage Bankers Association. Instead, MBA is offering to create a plan with a “more holistic method of identifying and penalizing servicer under-performance.” In correspondence dispatched to FHFA Director Mel Watt this week, MBA President and CEO David Stevens says the imposition of compensatory fees has morphed into a risk-sharing mechanism that shifts the costs of the prolonged foreclosure process from the GSEs onto mortgage servicers.