Despite Declines at Some Large Shops, Nonbanks Keep Growing
April 27, 2018
Nonbanks continued to gain ground in the GSE servicing market during the first quarter of 2018 despite some significant declines at several top companies. Nonbanks serviced $1.750 trillion of single-family loans tied to Fannie Mae and Freddie Mac mortgage-backed securities as of the end of March, a new Inside The GSEs analysis reveals. That was up 1.8 percent from December and a stunning 15.7 percent from March 2017. The nonbank share of GSE servicing edged up to 37.5 percent. Depository institutions – banks, thrifts and credit unions – saw a modest gain in aggregate GSE servicing during the first three months of 2018, but their combined market share fell to 58.7 percent.