The Money Source hopes to double its volume of subservicing contracts to almost $8.0 billion by yearend, capitalizing on what it feels is an underserved market: Smaller clients that don’t receive hands-on service from the giants of the industry, namely Cenlar and Dovenmuehle. At least that’s the view from TMS President Ali Vafai, who says there’s a huge “void” of subservicers that can effectively handle high-touch product, especially Ginnie Mae receivables. “The problem is that some Ginnie subservicers ...

The bank retreat from agency MBS servicing is mostly taking place at the top…

But there’s a catch: the portfolio has a delinquency rate of 11.5 percent and foreclosures of 1.5 percent.

However, bankers and advisors who ply their trade in the MSR market have told Inside Mortgage Finance there is adequate financing available to nonbanks.

The commercial-banking sector isn’t running away from the mortgage-servicing business the way it did a few years ago, but aggregate figures show the industry continues to favor whole loans over mortgage servicing rights. [Includes two data charts.]

Although servicing brokers posted brisk sales figures for the first half of the year, the third quarter has been tepid, with buyers catching their breath while trying to figure out their next move.

Three megabanks account for an outsized share of first liens held by banks: Wells Fargo, JPMorgan Chase and Bank of America.

A spokeswoman for bemortgage said the lender’s staff will be kept in place…

Simone Grimes, who holds the title of special advisor, is still employed by the agency.

Ocwen said its ability to utilize the NOLs to offset future taxable income may be significantly limited if the company experiences an ownership change.