The fastest-growing segment of the servicing market included companies ranking sixth through 25th in total servicing. Nonbanks gained ground while depositories fell back. (Includes two data charts.
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Federal Reserve Chair Jerome Powell suggested expanding the Community Reinvestment Act to include nondepository financial institutions but said Congress will have to make that decision.
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The new rule gives Fannie and Freddie two years to come up with a resolution plan that includes no government support in the event of a crisis. Housing finance experts say: “Good luck with that.”
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Many industry analysts believe the tax incentive, given a lack of housing inventory, would act as a subsidy to sellers rather than an aid to homebuyers.
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