Despite a slowdown during its final lap, 2017 was a strong year for sales of agency mortgage servicing rights, according to a new analysis of mortgage-backed securities data by Inside Mortgage Trends.The market saw some $538.49 billion of agency servicing rights change hands last year, a 22.0 percent increase from 2016. Most of the MSR transfers were bulk transactions, which totaled $406.78 billion, a huge 51.1 percent jump from the previous year. Bulk deals ... [Includes three data charts]
Financial services provider Situs is two weeks away from closing on its purchase of MountainView Financial Solutions, Denver, one of the most active brokers of mortgage servicing rights in the nation. Once the transaction is completed, it will mark the second significant residential-related purchase of the past seven months for the New York-based Situs, which bills itself as a “global provider of business solutions for real estate and financial service firms.” Back in May ...
Nonbanks will likely account for over half of outstanding agency single-family servicing by the end of 2018 if market trends continue as they have in recent years.
The Federal Reserve Board last week wrapped up enforcement actions against 10 banks and im-posed fines against five of them after “sustainable improvements” in their servicing operations.