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Lawmakers bury gold nugget for servicers in FHA reform bill

Lawmakers bury gold nugget for servicers in FHA reform bill

Specialty mortgage servicers may stumble upon a new stream of business if a proposed Federal Housing Administration reform bill takes effect in the future.

The Senate Banking Committee tweaked the proposed ‘FHA Reform’ bill this week to include a provision that would allow the FHA to transfer subservicing duties to specialty servicers. 

Granted the bill has yet to reach the floor for a full vote, but the change could prove beneficial to servicers if the legislation ever takes effect

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