Shellpoint Mortgage Servicing was the top servicer of mortgages backing non-agency MBS issued during the first quarter. Select Portfolio Servicing followed closely behind. (Includes data table.)
The real estate investment trust originates non-qualified mortgage, home equity and agency loans through its NewRez unit, and funds residential transition loans through its Genesis Capital affiliate.
A recent Fannie Mae study found that lenders are concerned about the lack of competition and rising prices of technology service providers’ solutions in the mortgage industry.