State regulators sought public input on proposed regulatory prudential standards for nonbank mortgage servicers, as the state-regulated industry covers an increasing share of this market. Public comments help inform state regulators as we continue to develop a regulatory structure for nonbank servicers.

CSBS met face to face with a handful of stakeholders to answer questions and clarify specific matters prior to comment submission. Some of these stakeholders followed with written comments included on this page. Others did not.

Additionally, CSBS has noted articles and attorney blogs, that while no submitted as formal comments, have been considered in our comment review. These are attached as well.
 

The proposed standards aim to:  

• Provide better protection for borrowers, investors and other stakeholders in the occurrence of a stress event that could result in harm; 
• Enhance effective regulatory oversight and market discipline over these entities; and 
• Improve transparency, accountability, risk management and corporate governance standards. 

Comments

Due Date

Comments were due by December 31, 2020. 

Documents

The materials for public consideration are as follows:

• Proposed Regulatory Prudential Standards for Nonbank Mortgage Servicers
  • Executive Summary
  • Overview of the Nonbank Mortgage Servicing Industry
  • Current Regulatory Environment
  • Proposed Prudential Standards for Comment 
• Questions to Prompt Public Comment

Contact Information

Please submit comments to PS.PublicComment@csbs.org.