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ALTERNATIVE Mortgage Servicing compensation INITIATIVE 


On January 18, 2011, FHFA announced joint initiative to consider alternatives for a New Mortgage Servicing Compensation Structure.

FHFA directed Fannie Mae and Freddie Mac, in coordination with FHFA and the Department of Housing and Urban Development (HUD), to consider alternatives for future mortgage servicing structures and servicing compensation for single-family loans.

The general purpose of the Joint Initiative is to explore a number of issues that have been the topic of industry debate and discussion over the years; to evaluate the potential impact on industry participants of alternative compensation structures; and to submit possible solutions for public consideration.

To promote an informed discussion of pertinent issues, FHFA posted an Background and Issues for Consideration (2/15/2011)document and offered four illustrative scenarios to stimulate public input.   FHFA sponsored a series of listening sessions with interested stakeholders, including mortgage industry participants, consumer advocates, research analysts, trade associations, and federal and state regulatory agencies.  Based on the input received from the public, the Joint Initiative developed and debated several concept proposals.  Two such proposals are included in the Alternative Mortgage Servicing Compensation Discussion Paper (9/27/2011) for public consideration and comment.

Related Documents

Outline for Panel Discussion at MBA Annual Convention (10/11/2011)

Joint Initiative Seeks Public Comment on Alternative Mortgage Servicing Compensation; Releases Discussion Paper (9/27/2011 News Release)

Acting Director Edward J. DeMarco's Speech at the MBA's National Mortgage Servicing Conference & Expo, Dallas, Texas (2/23/11)

Public Input

9/29/11 Allied Home Mortgage, Registered Mortgage Loan Officer Virginia Callaway
9/30/11 ExMor Capital Corporation Chief Executive Officer, Michael Francis
9/30/11 David Larson
9/30/11 Weichert Financial Services Chief Risk Officer , Ben Niles
10/31/11 Direct Mortgage Corp. Chief Executive Officer, James Beech
10/19/11 Crescent Mortage, President Michael Francis
10/31/11 UCM Inc. Chief Financial Officer, Dave Stephens
10/31/11 Dovenmuehle Mortgage Inc., Senior Vice President, David Allison
11/14/11 Pennsylvania Housing Finance Agency Chief Legal Counsel, Rebecca Peace
11/20/11 Phoenix Mortgage Associates, Ted Howard
11/22/11 The Clearing House Association Senior Vice President & Associate General Counsel, Mark Zingale
11/25/11 Mascoma Savings Bank Senior Vice President of Retail Lending, Ken Wells
12/1/11 Colonial Savings, J. David Motley
12/6/11 University Lending Group Senior Mortgage Loan Officer, Bart Swan
12/6/11 University Lending Group Senior Loan Officer, Roderick A. Parker
12/6/11 University Lending Group Sales Manager, Kathy Lundy
12/6/11 University Lending Group Post Closing, Jan Zawislak
12/6/11 University Lending Group/University Bank, Deu Banks
12/6/11 University Lending Group Loan Processor, Connie Gerhart
12/6/11 University Lending Group Branch Manager, Matthew Haas
12/6/11 University Lending Group Mortgage Origination Specialist, Kelly Bousquet
12/6/11 University Lending Group/University Bank, J. Price
12/6/11 University Lending Group Underwriter, Koleen Mouw
12/6/11 University Lending Group Branch Manager, Dwayne Thompson
12/7/11 University Lending Group Vice President of Residential Lending, Dan Fisk
12/6/11 University Lending Group/University Bank, K. Hamilton
12/7/11 University Lending Group, Elizabeth Grove
12/7/11 NOIC President, Mark Vinciguerra
12/8/11 Pulte Mortgage President and Chief Executive Officer, Debra Still
12/8/11 Guild Mortgage Company, Senior Loan Consultant Dawn Peck
12/8/11 Nafinc, Bruce Wagner
12/8/11 Cascade Financial Services President, Cody Pearce
12/8/11 AmeriCU Chief Risk Officer, Kim Renock
12/8/11 Liberty Bank of Arkansas Vice President, JP Sexton
12/8/11 Megastar Financial Senior Loan Officer, Becky Smith
12/8/11 MidWest America Federal Credit Union, BDR/Mortgage Specialist, Wanda Cisna
12/8/11 Towne Mortgage Company Vice President of Sales, Phil Candela
12/8/11AmeriCU Mortgage, Credit Union Liaison, Denise Guevara
12/8/11 Alliance Financial Resources Senior Mortgage Specialist, Matthew Kelchner
12/8/11 Guild Mortgage Company Mortgage Planning Specialist, Robert Brenner
12/8/11 New American Funding Senior Loan Officer, Jon Rowland
12/8/11 Town Stone, Barry Sturner
12/8/11 AmeriCU Mortgage Loan Officer, Tom Gotelaere
12/8/11 Nebraska Mortgage Association, President Sherri O'Callaghan
12/8/11 New Mexico Educators Federal Credit Union Senior Vice President of Service Delivery, Lyle Greenberg
12/8/11 Amerifirst Financial, Area Production Manager, Tony Ortega
12/8/11 Acceptance Capital Mortgage, Lydia Shina
12/8/11 Megastar Financial, Senior Loan Officer, Trent Peaker
12/8/11 CoreLogic Dorado Compliance Manager, Diane Afflerbach
12/8/11 Chimney Rock Mortgage President, Mike Hogan
12/9/11 Sharon Samz, AmeriCU Mortgage
12/9/11 Innovative Mortgage Services, Barry Carraway
12/9/11 University Bank, Document Management, Shannon Wade
12/12/11 Insight Bank Secondary Marketing Manager, Cathy Wagner
12/12/11 Guardian Mortgage Company Vice President, Cheryl Brown
12/12/11 University Lending Group, Senior Loan Originator, John Wenson
12/13/11 OMBA Executive Director, Bob Niemi
12/13/11 Hanover Mortgage Corp. President, Ralph Wieleba
12/13/11 Diane Hinze
12/13/11 Assured Mortgage Inc, Diane Rue
12/14/11 Ross Mortgage Corporation Vice President, Ken Panosian
12/14/11 Matthew Hackett
12/14/11 UMBC President, Cynthia Lowman
12/14/11 University Lending Group Senior Loan Advisor,Brandon Mayo
12/14/11 University Lending Group Mortgage Origination Specialist, Kelly Leigh Bousquet
12/14/11 University Lending Group Operation Manager, Carolyn Draper
12/14/11 St. James Mortgage Corporation, Ken Neal
12/14/11 University Lending Group Loan Processor, Lori Smith
12/14/11 University Lending Group Senior Loan Officer, Ryan Hufty
12/14/11 University Lending Group Account Manager, Greg Wells
12/14/11 University Lending Group, Christy Bieling
12/14/11 Traverse City State Bank Vice President of Mortgages, Daniel Baldwin
12/14/11 University Lending Group, Tracy Whitaker
12/14/11 University Lending Group Loan Processor, Kim Forbes
12/14/11 Genisys Mortgage Professionals Division Manager, Bruce Meek
12/14/11 University Lending Group Mortgage Origination Specialist, Anna Albin
12/14/11 University Bank, Patrick Hayner
12/14/11 Gilpin Financial Services President, Ann Riley
12/14/11 Whole Loan Capital Principal, David Akre
12/14/11 Fulton Mortgage Company Senior Vice President of Marketing, Jeff Scheuren
12/14/11 University Bank, Melissa Hedge
12/14/11 Telcom Credit Union, Donald Oleske
12/16/11 Arvest Mortgage Company President & CEO, William Roehrenbeck
12/17/11 Roger Earnhardt
12/19/11 University Lending Group Retail Sales Manager, Jae Tolliver
12/19/11 Centris Federal Credit Union Director of Mortgage Services, Steve Swanstrom
12/19/11 American Bankers Association Vice President and Senior Counsel, Joseph Pigg
12/20/11 Compass Analytics Managing Partner, Rob Kessel and Umpqua Bank EVP/General Counsel, Steven L. Philpott
12/20/11 Joint State MBA, Vermont Mortgage Bankers Association Executive Director, Diane M. Smith
12/20/11 Credit Union National Association Counsel for Special Projects, Kristina Del Vecchio
12/20/11 Center for American Progress Senior Fellow, Peter Swire
12/20/11 Vermont Mortgage Bankers Association Executive Director, Diane Smith
12/20/11 Central Mortgage Company President, Rick Hollenberg
12/20/11 Fidelity Bank Senior Vice President of Servicing Operations
12/21/11 American Securitization Forum Executive Director, Tom Deutsch
12/21/11 Michigan Mortgage Lenders Association President, Brent Green
12/21/11 The Community Mortgage Banking Project Managing Director, Glen Corso
12/21/11 BOKF Mortgage President, Ben Cowen
12/21/11 SIFMA Managing Director, Richard Dorfman
12/21/11 The McCue Mortgage Company President, William McCue
12/21/11 Homeownership Preservation Foundation Senior Vice President of Stakeholder Relations and Research, Gene Spencer
12/21/11 First Hawaiian Bank, Executive Vice President and Manager Consumer Banking Group, Winston K. H. Chow
12/21/11 AHMSI Executive Vice President, Barry J. Bier
12/21/11 Joint Clearinghouse, MBA, SIFMA, HPC and CMBP, Community Mortgage Banking Project Managing Director, Glen Corso
12/21/11 AHMSI Executive Vice President, Barry J. Bier
12/21/11 National Association of Home Builders Senior Vice President of Regulatory Affairs, David L. Ledford
12/21/11 Cape Bank, Gina Tubertini Loefflad
12/22/11 Housing Policy Council President, John H. Dalton
12/22/11 Independent Community Bankers of America President and CEO, Ron Haynie
12/22/11 Debra Weise
12/22/11 NAFCU General Counsel and Vice President of Regulatory Affairs, Carrie Hunt
12/22/11 The Prestwick Mortgage Group Chief Executive Officer, Larry Alberson
12/22/11 66 Federal Credit Union Senior Vice President, Mark Williams
12/22/11 US Bank Corp President and Chief Executive Officer, Daniel Arrigoni
12/22/11 MMS Mortgage Services, Ltd., President, Timothy M. Crowley
12/22/11 Coastal States Mortgage Corporation, President, Patrick J. Mansell, CMB
12/22/11 Guild Mortgage Company President and CEO, Mary Ann McGarry
12/22/11 BlackRock, Vice Chairman, Barbara G. Novick
12/22/11Coastal States Mortgage Corporation President, Patrick Mansell
12/22/11 SchoolsFirst Federal Credit Union Senior Vice President & Chief Financial Officer, Francisco Nebot
12/23/11 Lenders One, CEO, Scott Stern
12/23/11 Financial Analysis Partners President, David Fleig
12/23/11 Platinum Mortgage Corporation, President and CEO, William Giambrone
12/23/11 Colorado Mortgage Lenders Association Chairman, T.K. Jones
12/23/11 California Mortgage Bankers Association Chair, G. Thomas Dudley
12/23/11 Residential Servicer Coalition, Chairperson, Amy Brandt
12/23/11 Trustmark National Bank Executive Vice President, Breck Tyler
12/23/11 PNC Mortgage, CEO, Saiyid Naqvi
12/23/11 Arvest Mortgage Company Vice President, Litigation Administrator, Vicki King Smith
12/23/11 Arvest Mortgage Company Vice President, Loan Servicing Assistant Manager, Susan Kuehn
12/23/11 Financial Advisory Services Team John Sullivan
12/23/11 HomeStreet Bank, Chairman & CEO, Mark K. Mason
12/23/11 Member First Mortgage Vice President of Servicing, Libbey Hess
12/23/11 Ameritrust Mortgage Corporation, President, Barbara Walters
12/23/11 Arvest Mortgage Company & Central Mortgage Company, Executive Vice President & COO, Steven Plaisance
12/23/11 Ally, Chief Capital Markets Officer, CEO Mortgage Operations, CEO Residential Capital, LLC, Tom A. Marano
12/23/11 Chase Senior Senior Vice President, Garry Cipponeri
12/23/11 Arvest Mortgage Company, Senior Vice President, Sharon Bradford
12/23/11 Congress of the United States House of Representatives, Representative Mike Coffman
12/23/11 USAA Vice President, James Jandrisevitz
12/23/11 Ohio Credit Union League, General Counsel, John Kozlowski and Director, Compliance & Information, David J. Shoup
12/23/11 Central Mortgage Company, Senior Vice President & Loan Servicing Manager, Lou Ann Howard
12/24/11 PHH Mortgage Corporation, Luke S. Hayden, President and Richard J. Bradfield, SCP Capital Markets
12/26/11 Aerospace Federal Credit Union, Vice President, Ed Casanova
12/26/11 Towne Mortgage Company, President & CEO, Donald G. Calcaterra
12/26/11 Quicken Loans CEO, William Emery
12/26/11 Parkside Lending LLC, CEO, Matt Ostrander
12/26/11 National Consumer Law Center on behalf of its low income clients and The National Association of Consumer Advocates, Of Counsel, Diane Thompson
12/26/11 Wright-Patt Credit Union, Senior Vice President, Timothy Mislansky
12/26/11 National Association of Realtors, President, Moe Veissi
12/27/11 Community National Bank, President, Stephen P. Marsh
12/27/11 US Bank Regional Manager, Jannine Bielesch
12/27/11 ____ Bank
12/27/11 Phoenix Capital, Executive Vice President, Michael Lau
12/27/11 University Bank, President & CEO, Stephen Lange Ranzini
12/27/11 Guaranty Bank, Senior Vice President, Craig Ahles
12/27/11 Credit Union National Association, Counsel for Special Projects, Kristina Del Vecchio
12/27/11 Mitch Hogins
12/27/11 The Collingwood Group, Managing Director, Brian T. O'Reilly
12/27/11 Guaranty Trust Company Vice President, David Houghtlin
12/27/11 Center for Responsible Lending, Policy Counsel, Kenneth Edwards

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