Correspondent originators are better at finding purchase-mortgage business, and that’s why the channel’s market share rose in the second quarter. Brokers saw the biggest decline. (Includes six data charts.)
For the most part, subservicing growth has been slow, thanks to booming MSR sales and some non-traditional servicing owners shifting strategies. Cenlar, though, remains the nation’s number one subservicer. (Includes data chart.)
Thanks to the spike in MSR sales this year, reviews of the underlying collateral are backing up, causing delays in portfolios being transferred to new owners. Implications?