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Article: Change for the better: working toward minimum servicing fee reductions.(Executive Suite)
- Article from:
- Mortgage Banking
- Article date:
- February 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE ADVENT OF EACH NEW YEAR should cause us to reflect upon what we can do to make this year better than the past year. The continuing evolution of the mortgage banking industry requires all of us to not only reflect, but also to commit ourselves to render our collective businesses relevant to the rapidly changing environment that confronts us each and every day.
In this regard, the minimum servicing fee requirement that the government-sponsored enterprises (GSEs) set at 25 basis points decades ago should be among the high priorities for thought and action. I propose cutting it in half to 12.5 basis points, to better align it with current trends in servicing ...