United Capital Markets, which helps firms hedge their servicing portfolios, says the Federal Housing Finance Agency (FHFA) could be all wet on several assumptions in its Joint Servicing Compensation Initiative, a document that thrives to revamp GSE servicing fees.

Among other items, UCM slams FHFA's calculations on the equity required to support MSRs, accusing the agency (in its 28-page JSCI document) of overstating the requirement by 100%.

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.