| The Federal Housing Finance Agency’s new proposal on higher capital standards for Fannie Mae/Freddie Mac servicers is still pretty fresh but already the industry is reacting. The Community Home Lenders Association said in a statement it’s afraid the language, as proposed, could “reduce access to mortgage credit and increase industry consolidation among the industry’s largest participants, which in turn could increase systemic risk.” CHLA chief Scott Olson notes, “Seller-servicer requirements have already been increased significantly since the housing crisis, and concerns about counterparty risk should be balanced against access to credit concerns”…Meanwhile, two servicing advisors believe most nonbanks have made so much money the past year (thanks to the refi boom) that the extra capital charges should be no big deal… |