jbancroft@imfpubs.com

Transfers of agency mortgage servicing rights – a barometer of sale activity – took an unexpected upward turn in the second quarter of 2019 despite an overall cooler environment for bulk transactions.

A new Inside Mortgage Trends analysis of agency mortgage-backed securities data shows $180.61 billion of single-family servicing changed hands via bulk and flow deals in the second quarter, up 33.1% from the first three months of the year.

Flow deals were particularly strong, a byproduct of a healthy origination market in the second quarter.

Bulk transfers totaled $139.8 billion, up 28.9% from 1Q19 but down 7.4% from the fourth quarter. For more details and exclusive tables, see the new edition of Inside Mortgage Trends, now available online.