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

This bill sets requirements for capital, liquidity, and corporate governance for nonbank mortgage servicers. It mandates that these servicers maintain sufficient capital and liquidity, conduct annual risk management assessments, and establish a board of directors for oversight. The board must ensure compliance with corporate governance frameworks and internal controls. Additionally, servicers must undergo annual external audits and maintain operating liquidity to cover normal business operations.

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

This bill sets requirements for capital, liquidity, and corporate governance for nonbank mortgage servicers. It mandates that these servicers maintain sufficient capital and liquidity, conduct annual risk management assessments, and establish a board of directors for oversight. The board must ensure compliance with corporate governance frameworks and internal controls. Additionally, servicers must undergo annual external audits and maintain operating liquidity to cover normal business operations.