The Federal Housing Finance Agency (FHFA) confirmed that Fannie Mae and Freddie Mac are exploring possible changes to mortgage servicer compensation, but said implementation is unlikely before the summer of 2012.The current model, in which servicers collect a minimum percentage of the loan balance annually, paid out of the interest stream, "decreases the flexibility necessary for optimal servicing of non-performing loans," FHFA said in a statement released Tuesday.

The GSEs  will work with the agency and the Department of Housing and Urban Development to look at alternatives.

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