Fed's 'Full-Speed Ahead' on Basel III To Slam Mortgage Servicing Rights In The US

``The Basel agreement limited to 10 percent how much MSR's could count toward the common equity component and the Fed decided to strictly follow that standard. In anticipation of the new rules, some banks have been selling off mortgage servicing rights, like earlier this week when BofA agreed to sell $10.4 billion in mortgage servicing rights to a unit of Nationstar Mortgage." ''