The banking industry's aggregate portfolio of servicing for others was down slightly in the second quarter, although the top five players shed a combined $100 billion. (Includes data chart.)
Monitoring calls between employees and borrowers can provide insight on customer satisfaction and help servicers meet compliance requirements, according to S&P Global Ratings.
Most of the major bulk buyers of agency servicing rights moved to the side-lines in the second quarter of 2020, and more mid-sized lenders opted to hold MSR rather than sell through coissuance arrangements. (Includes three data charts.)
The Mortgage Industry Standards Maintenance Organization said it is developing standards to facilitate more efficient servicing transfers. The organization is asking industry participants to join its working group.
Given the recent surge in new COVID-19 infections, now may be a good time to reassess location-based licensing requirements as well as state oversight, the trade group believes.