The FHFA has enormous sway over the CSS because of its role as regulator and conservator of Fannie and Freddie. However, once (if) the two are recapped and released, that won’t necessarily be the case…
“The NYDFS has taken cyber security to a whole new level," said one lender. "They are hammering everyone about the risk and heavy enforcement in examinations.”
Some of the provisions in Ginnie's proposed Digital Collateral Guide have the potential to create unnecessary strains on issuers, according to the MBA.