The volume of mortgages banks service for other entities declined by 2.0% during the first quarter of 2024. Regions Bank was the only depository among the top 10 to increase its servicing. (Includes data table.)
PennyMac booked a weak increase in servicing income due to a large loss tied to hedges for MSRs; First American’s CEO doesn’t expect the CFPB’s effort on lender’s title insurance to change much.
A substantial slowdown in bulk sales of Fannie/Freddie servicing led to the lowest secondary market volume for agency MSRs since the third quarter of 2020. (Includes three data tables.)