Commercial banks and savings institutions increased the amount of mortgage servicing rights they handle for other investors in the fourth quarter of 2018, although valuations for the asset softened. [Includes one data chart]

Struggling Ditech Financial late this week offered up a progress report on its future, saying — among other things — that one of its largest subservicing clients, New Residential Investment Corp., wants out of the contract.

Transfers of agency mortgage servicing rights rose to their highest level in at least four years during 2018, although activity cooled in the fourth quarter. [Includes three data charts]