Servicers Doing More Work for Less Pay, but GSEs are Offering Some New Financial Incentives to Compensate
June 24, 2011
Mortgage servicers are being squeezed by inadequate compensation, intense scrutiny and a surge of new regulation, but Fannie Mae and the Treasury Department say they are trying to even the score. Servicers no longer see their job as financially rewarding and have been leaving their positions accordingly, claimed Diane Pendley, managing director of Fitch Ratings, during a panel session at this weeks annual meeting of the American Securitization Forum. Were seeing them fighting theyre coming out swinging, just really to get some balance, echoed Gwen Muse-Evans, vice president and chief risk officer at Fannie Mae. Theres definitely a perception that...