CSBS and FHFA sign agreement to enhance information sharing on nonbank mortgage companies
The MOU reportedly aims to improve the ability to coordinate on market developments to better identify and mitigate risks.
The MOU reportedly aims to improve the ability to coordinate on market developments to better identify and mitigate risks.
The new law is effective July 1, 2024, and sets prudential standards for mortgage servicers, including capital and liquidity requirements.
Among other things, the new act exempts payroll agents from licensure, outlines license suspension/revocation criteria, and sets enforcement guidelines.