Mr. Cooper’s servicing portfolio is expanding while the number of employees in the nonbank’s call center is declining. Investment in technology is helping to reduce costs and fuel servicing growth.
Chase didn't back into the top servicer ranking, it blew past Wells Fargo in the second quarter. But Mr. Cooper Group has its eyes on the $1 trillion mark. (Includes three data charts.)
A handful of mergers accounted for a significant share of the huge flow of agency MSR to new owners during the second quarter. Sales by nonbanks looking to prop up earnings were a major factor. (Includes three data charts.)
Delinquencies were largely up across the board in the agency MBS market in the second quarter. Only 120-plus-day delinquencies declined compared to the end of March. (Includes data chart.)
Bank portfolios of mortgage servicing for others contracted slightly during the first quarter. Also, the ratio measuring MSR fair value against the UPB serviced for others continued to drop after peaking in the third quarter of last year. (Includes data chart.)
Lakeview Loan Servicing dominated both the bulk and coissuance MSR transfer markets, accounting for nearly a third of first-quarter activity. (Includes three data charts.)
Total delinquencies declined in the first quarter led by the drop in early-stage defaults. However, the delinquency rate on loans 30-59 days past due still accounted for more than half of the total default rate. (Includes data chart.)