Over the past year or so we've been reporting on the increasing likelihood that some factions of the mortgage business might shift over from being controlled by banks to nondepositories. Case in point, is the recent National Mortgage News story on the rise of IBM in the servicing space. Now, it appears certain regulators in Washington are catching on. In recent testimony before the Senate Banking Committee, Federal Reserve Governor Daniel Tarullo noted coming changes to the mortgage servicing sector, including "the possible migration of more servicing activity to non-banking organizations." But besides IBM, who, exactly are these nonbanks?
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