Comments: Prudential Standards for Non-Bank Mortgage Servicers
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.
|American Bankers Association|
|Alston & Bird|
|Community Home Lenders Association||Word|
|Housing Policy Council|
|Independent Community Bankers of America|
|Manufactured Housing Institute|
|Mortgage Bankers Association|
|National Consumer Law Center|
|Union Home Mortgage|
Comments were due by December 31, 2020.
The materials for public consideration are as follows:
- Proposed Regulatory Prudential Standards for Nonbank Mortgage Servicers
- Questions to Prompt Public Comment
Please submit comments to PS.PublicComment@csbs.org.