Nonbank servicers used the MSR secondary market and organic growth to boost their portfolios of Fannie and Freddie servicing. There was also a surge in GSE servicing among smaller banks. (Includes two data charts.)
Small lenders believe the GSEs should offer special programs for small servicers and rural appraisals. And like their larger competitors, they don’t like the new PSPAs.
A number of nonbanks added significantly to their Freddie servicing portfolios during the first quarter, raising the industry's stake to over half of the market. Meanwhile, delinquency rates fell sharply in early 2021. (Includes two data charts.)
A number of top nonbank servicers saw significant increases in their Fannie/Freddie servicing portfolios, while most big banks saw declines. The GSE market continued to fragment. (Includes two data charts.)
Section 4022, which covers forbearance under the CARES Act, does not include an explicit end date. According to the CSBS, this has led many to assume it ends on Dec. 31. The truth is less certain.