It occurs to me an unintended consequence of consolidating the servicing industry with a liquidity Hunger Games could be the loss of some very important and strategic assets in servicing - small specialty servicers.
They have a very unique set of skills and experience we will desperately need in the lingering wake of COVID and the forecast recession. They provide a backbone of loss mitigation supporting loans and borrowers not all servicers want or have the expertise to service. As usual, there's more to this than culling the herd.
How great is the candor coming out of the MBA right now? They are really making every effort to influence what is sure to be a harsh blow to the agency servicing community if FHFA does not authorize the same type of liquidity facilities for Fannie and Freddie as Ginnie's PTAP facility. See their response below.
Thanks for speaking truth to power.
Geaux MBA!
Comments