Investments in customer service can help both borrowers and servicers, according to industry participants. Servicers are using AI and other tech to help borrowers and potentially generate recapture business.

Jumbo servicing portfolio volume was nearly unchanged from the second quarter to the third. Larger banks saw declines in portfolio sizes. (Includes data table.)

Investments in technology are helping Mr. Cooper reduce its servicing costs and allowing the industry’s largest servicer to place competitive bids on servicing portfolios.

A new study from J.D. Power showed that mortgage servicers could better meet customer demands by implementing online chat and AI technologies into their workflows.

Mr. Cooper Group, already the largest primary servicer, increased its servicing volume by 2.8% during the third quarter while the amount of servicing outstanding grew by 0.8%. (Includes three data charts.)

Large nonbanks grow their share of GSE MBS servicing but Chase still ranks number one in our rankings among servicers.

Consumer complaints submitted to the CFPB related to mortgages slightly increased in the third quarter of 2024, with servicing issues in the forefront.

Planet Management Group is increasing its non-agency servicing portfolio and recently received an upgraded rating.

Subprime auto deals that experienced distressed servicing transfers last year saw swings in delinquencies and ultimately took an elevated level of losses, according to Kroll Bond Rating Agency.

One advisor estimated it can take a fund — PE or hedge — 18 to 24 months to enter the MSR market.