has asked the CFPB to consider the merger’s impact on the market
The speculation concerning the potential merger between two major companies in the home-buying and loan-sourcing market has brought to light a potential problem concerning pricing. Rep. Maxine Waters, a ranking member of the Committee on Financial Services in the U.S. House of Representatives, has taken notice of the potential effects associated with this merger and has requested the Consumer Financial Protection Bureau (CFPB) to consider its impact on the mortgage servicing rights and loan pricing.
The home loan sector of the housing market is an ever-changing landscape and a situation of this magnitude could prove to have a large scale effect on the access and costs associated with obtaining a mortgage for prospective homebuyers. An analysis of any such merger must also take into account potential effects on market competition, pricing, and mortgage servicing rights. All of these aspects are important for an industry-wide evaluation of the proposed incorporation.
The most important elements of the text can be summarized as:
• Potential Merger: Two major companies in the home-ownership and loan-sourcing market have announced a potential merger.
• Congressional Notice: Representative Maxine Waters, a ranking member of the Committee on Financial Services in the U.S. House of Representatives, has requested the CFPB to review the merger and its implications.
• Considerations: A thorough analysis must be made concerning the merger’s potential effects on market competition, pricing, and mortgage servicing rights.
You can read this full article at: https://www.housingwire.com/articles/rep-waters-wants-concessions-in-ice-black-knight-settlement-agreement/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
