Rocket’s pending acquisition of the nation’s largest subservicer is making some MSR owners consider a subservicer that isn’t owned by Rocket. Mr. Cooper isn’t giving up, with plans for additional growth.

Share among megabanks and large nonbanks grew as overall deliveries to the GSEs faltered in the first quarter. (Includes two data tables.)

Rocket is set to acquire Mr. Cooper, the second-largest servicer of loans in agency MBS. Rocket, which has a significantly high recapture rate, plans to boost retention efforts on Mr. Cooper’s portfolio.

So far this year, 53.9% of GSE deliveries went to Freddie Mac compared to 44.7% in the first two months of 2024. (Includes two data tables.)

Rocket Mortgage believes the $1.75 billion acquisition will boost its purchase origination volume and lower the cost of customer acquisitions. It will also add new data to Rocket’s artificial intelligence algorithm.

MSR buyers believe that there will be plenty of supply of the asset this year as mortgage originators face difficulties from high interest rates. UWM, the largest lender in the industry, is willing to sell if the price is right.

There was 3.7 months of housing supply on the market in January, the most since before the pandemic.

All but one of the top 10 GSE sellers delivered a higher proportion of mortgages to Freddie Mac than Fannie Mae in January. (Includes two data tables.)

One in three homebuyers are using artificial intelligence tools at some point during the process.

At its current pace, by the end of March Mr. Cooper Group will have overtaken Chase Home Finance as the largest GSE server. (Includes two data tables.)