MBA Chair Motley urges ‘caution’ on overhauling servicer compensation

Mortgage servicers should approach efforts to overhaul their compensated structure with caution, as changes to the status quo “could have ripple effects across the entire real estate finance industry,” warned Mortgage Bankers Association Chairman David Motley. Servicers typically receive 25 basis points of borrowers' monthly mortgage payments as a fee for managing loan accounts. Foreclosure […]