Establishes capital, liquidity, and corporate governance requirements for nonbank mortgage servicers.

This bill establishes requirements for capital, liquidity, and corporate governance for nonbank mortgage servicers. It mandates that covered mortgage servicers maintain capital and liquidity in compliance with specified standards, including adherence to generally accepted accounting principles. Corporate governance requirements include establishing a board of directors responsible for oversight, implementing a risk management program, and conducting annual internal and external audits.

Establishes capital, liquidity, and corporate governance requirements for nonbank mortgage servicers.

This bill establishes requirements for capital, liquidity, and corporate governance for nonbank mortgage servicers. It mandates that covered mortgage servicers maintain capital and liquidity in compliance with specified standards, including adherence to generally accepted accounting principles. Corporate governance requirements include establishing a board of directors responsible for oversight, implementing a risk management program, and conducting annual internal and external audits.