Borrower Information News Today

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The Conference of State Bank Supervisors (‘CSBS’) published a white paper last September on Prudential Standards for Nonbank Mortgage Servicers. Noting the growth of nonbank entities specializing in mortgage servicing, CSBS proposed an increased baseline of standards for state regulators to utilize in their regulatory oversight. The industry pushed back against adopting standards that differ from existing CFPB and Federal Housing Finance Agency requirements.