“Customers are more promptly and efficiently served when they contact their financial institution directly with a concern,” said the American Bankers Association…
Although a number of large banks have recently shown more interest in the secondary market for mortgage servicing rights, there is no sign that the migration toward nonbanks is ending. A new Inside The GSEs analysis of mortgage-backed securities data shows that independent mortgage bankers increased their holdings of Fannie Mae and Freddie Mac MSR by 2.0 percent from the first to the second quarter of 2018. Depository institutions recorded an 0.5 percent decline in GSE servicing rights over the same period. Most of the bank shrinkage came from the four institutions with over $1 trillion in total assets. Although Wells Fargo, JPMorgan Chase, Bank of America and Citigroup still held a whopping...
The sale of bulk mortgage servicing portfolios stayed red hot in the second quarter, with buyer interest and prices remaining high, but a modest lull in activity may be on the way, according to interviews conducted this week by Inside Mortgage Trends. Servicing brokers polled by this newsletter said there’s roughly $28 billion worth of receivables currently in the market that are ready to change hands. This includes a roughly $10 billion package of servicing rights that has been ...
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