FHFA Retreating From Dramatic Mortgage Servicing Fee Changes
February 6, 2012
The Federal Housing Finance Agency might be backing away from its controversial suggestion to change mortgage servicer compensation from the current 25 basis points of outstanding principal balance to a flat fee of $10 per mortgage, per month for current loans, with no incremental fees other than existing incentive compensation for the servicing of non-performing mortgages. Considering changes to the structure of mortgage servicing compensation is an important component of improving the operations of the future mortgage market, an FHFA spokeswoman said. We received useful input on ...