Vendors that ply their trade in the subservicing arena aren’t growing very quickly these days, though there are exceptions. Meanwhile, M&A activity has resulted in some attrition and more could be on the way. (Includes data table.)
What would mortgage bankers do if they didn’t have a massive reservoir of mortgage servicing rights to rely on during difficult times? Best not to think about it. But the good news is that servicing values remain strong.
The mortgage industry keeps pining for a rate cut but so far the Fed has resisted. This week, a hotter-than-anticipated CPI reading stalled momentum on the rate front and MBS prices headed lower.
When nonbanks suffer in the origination game, so do their bankers. According to the latest analysis from Inside Mortgage Finance, warehouse commitments totaled $96.0 billion at yearend. (Includes data table.)
What does the stalled mortgage job market need? An interest rate cut by the Federal Reserve. Otherwise, limited hiring and layoffs will be the order of the day.