The Office of Thriff Supervision has issued guidance dealing with the evaluation of purchased mortgage servicing rights that the industry feels is "flexible" but still calls for an annual independent appraisal of PMSR that is more restrictive than required by some other banking agencies.

But despite the industry's acceptance of the new guidelines, it remains concerned that the underlying capital regulation dealing with valuation of identifiable intangibles, such as PMSR has yet to be adopted by the agency.

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