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Volume 2014 - Number 1

January 9, 2014

New CFPB Servicing Rule May Push Nonbanks And Independents to Sell Rather Than Adapt

The mergers-and-acquisitions market is expected to be robust this year thanks to falling loan production, which likely will force weaker players in the mortgage industry to align with stronger partners. But now there’s another reason why M&A activity could be brisk: new servicing rules from the Consumer Financial Protection Bureau. According to industry officials and Fitch Ratings, new servicing rules will drive up compliance costs for all servicers, but smaller players – including community banks and nonbanks – could see their profits erode as they increase spending to stay compliant. In a new report, Fitch writes...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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