Nonbank mortgage servicers are already in the crosshairs of regulators. Now they will face even more scrutiny from Fannie Mae and Freddie Mac.

The Federal Housing Finance Agency, which oversees the government-sponsored enterprises, issued an advisory bulletin on Monday requiring Fannie and Freddie to develop a risk management framework with ongoing monitoring of mortgage servicers that service loans insured by Fannie and Freddie. The FHFA's formal framework requires routine exams, reviews and testing to ensure servicers, particularly nonbanks, can meet current requirements.

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