For decades, mortgage servicers handling Fannie Mae and Freddie Mac loans have been paid a set minimum rate for every dollar of performing loans they tend.

That rate, currently a quarter of 1%, is the foundation for the industry's compensation structure, hedging and accounting, and the right to collect it makes up a hefty portion of the largest banks' balance sheets. But like other institutionalized elements of the business, the 25-basis-point fee may soon be in for an overhaul.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.