The Federal Housing Finance Agency re-proposed minimum financial eligibility requirements for Fannie Mae and Freddie Mac seller-servicers.
Details: The proposal:
Would update previously established minimum financial requirements.
Is designed to strengthen required capital and liquidity for seller-servicers with different business models while improving the standards’ transparency and consistency.
Differentiates servicing mortgages held by Ginnie Mae and the government-sponsored enterprises.
Incorporates feedback from the agency's 2020 proposal and lessons from the market reaction to the COVID-19 pandemic.
Comment Deadline: The FHFA is receiving input on the proposal for 60 days at ServicerEligibility@fhfa.gov. ICBA will submit comments.
Outlook: The FHFA said it anticipates finalizing requirements in the second quarter of 2022, most of which will be effective six months after they are finalized, and some will be phased in over longer periods of time.