The industry-wide servicing-for-others total was down $99.41 billion from June, a 3.0% quarterly decline. With a handful of exceptions, the banking sector has reported quarterly declines in SFO since the end of 2009.
Michael Bright: “SFA reiterates our support for the ultimate goal of releasing the GSEs from conservatorship and to increase the role of private capital in our nation’s housing finance system in a responsible manner"...
The big question for the industry: Once production finally slows next year, will lenders trim retail and opt to use brokers since the latter only get paid if the loan closes?
RSS