Trends in Servicing Transfers and Bank Mortgage Pricing; Goldman Layoffs

Posted To: Pipeline Press

Tom Finnegan contacted me yesterday saying, "Rob, yesterday you published a list of reasons why loans are not currently being purchased. One of the statements noted that, 'The HUD-1 or Alternative Settlement Statement cannot replace the CD to the seller.' You published the acronym for 'Alternative Settlement Statement' which might be filtered out of some e-mails systems. Has anyone come up with a different abbreviation?" Not that I know of. And maybe e-mail filters will have to change. Don't forget that nearly a year ago state regulators proposed new capital standards for non-bank mortgage servicers through the Conference of State Bank Supervisors (CSBS). The capital requirement would be applied at the corporate entity level, which is different from the proposed FHFA capital rules , which applicable...(read more)

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