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[17 Jul 2011 | One Comment | 6,774 views]
A national set of mortgage servicing standards?

Anyone who has been following the mortgage industry knows by now that the federal government is taking a hard look at loan servicing standards.
Why? We saw a good number of people lose their homes and lenders lose money as mortgage failed, in part due to relaxed lending standards and even lower standards by Fannie Mae and Freddie Mac. Indeed, the two government sponsored enterprises that control over half of the nation’s loans that are bundled and sold as mortgage backed securities relaxed their standards, too. Throw in reduced documentation requirements …