The number 15th ranked Fairway Independent Mortgage wouldn’t provide a hiring estimate but CEO Steve Jacobson said, “We’re always open minded about opportunities.”
Marc Savitt, who runs The Mortgage Center, Martinsburg, WV, called the technology snafu a “big deal,” adding: “It’s taking weeks to receive we got in days.”
At Sept. 30, roughly $2.09 trillion – or 19.9 percent of total residential mortgages outstanding – were being subserviced by a vendor that didn’t own the underlying servicing strip…
But the gain was largely attributable to one bank – Wells Fargo – which acquired an agency servicing portfolio of about $51.0 billion from Seneca Mortgage…
It hasn’t happened often in recent years, but commercial banks and thrifts were actually servicing more home mortgages for other investors at the end of September than they had at the midyear point. A new analysis by Inside Mortgage Trends of bank call reports shows the industry was servicing $3.652 trillion of home loans for other investors at the end of the third quarter. Most of this SFO business is tied to mortgage-backed securities pools, and the ... [Includes one data chart]