Authors
Nonbank financial companies, including residential mortgage real estate investment trusts (“mortgage REITs”), have expressed concern that nonbank residential mortgage lenders, servicers and purchasers might be subject to enhanced regulatory scrutiny and prudential standards by the Financial Stability Oversight Council (the “Council”) or increased state and federal regulation to head off action by the Council. Indeed, originating and servicing residential mortgage loans by nonbank mortgage originators and servicers appear to be on the Council’s radar. This Legal Update gives an overview of the Council’s newly revised evaluative process.
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