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Servicers are feeling the heat of new regulations and compliance standards from both the state and federal level.
National Mortgage News details one of the servicing industries latest concerns: the fact that the Federal Housing Administration is implementing a servicer scorecard that will impact their business.
The news agency writes:
The Federal Housing Administration is the process of implementing a new servicer scorecard and mortgage bankers are afraid it will be used to penalize servicers with high re-default rates.
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