Demand for MSRs among investors remains steady even as declining interest rates lead to lower valuations for the assets. The supply of MSR for sale could also increase as lenders originate more mortgages.

The extended partial shutdown of the federal government is putting stress on some mortgage borrowers.

Among the largest servicers, nonbanks increased their portfolios of owned servicing during the third quarter of 2025 and owned servicing at banks continued to decline. Rocket is poised to overtake Chase as the largest firm in terms of owned mortgage servicing. (Includes three data tables.)

Looking to book a profit in 2025? There’s still time to sell servicing rights, but delays could up-end the equation.

Sales of mortgage servicing rights have slowed as 2025 winds down but valuations on this sought-after asset remain quite attractive.

There was nearly $2 trillion in agency mortgage servicing with coupons over 6% at the end of the third quarter, a bounty of refinance business if mortgage interest rates decline. (Includes two data tables.)

Certain mortgage companies are comfortable using AI voice bots to interact with borrowers, seeing gains in efficiency. Others are using the technology in non-customer-facing activities.

Annaly Capital Management is buying a portfolio of lower-coupon MSRs from Pennymac, and also tapping Pennymac as subservicer of the portfolio.

Western Alliance is tweaking the subservicing chores at its correspondent unit. The bank also is pondering selling more MSRs.

Ginnie Mae’s share of total servicing outstanding rose to 18.1% as of the end of June. Meanwhile, banks are adding to their servicing. (Includes two data tables.)