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Inside

EDITORIAL

Slowdown Isn't so Bad for Servicers page 4

MORTGAGE SCENE

A Moral Hazard in Pay-Option Loans? page 5

COMMERCIAL SERVICER

CMBS Players Keep Getting Bigger page 11

REGULATORY WATCH

Regulators Wary Of Risk Layering page 16

SERVICING PEOPLE page 26

MSN/SPECIAL REPORT

Document Custody

The rise of electronic mortgage documents won't eliminate the document custody function, but it will change the way the industry works in the future. Page 21 (c) 2006 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com

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