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Volume 14 - Number 25

December 12, 2014

GSEs Won’t Say How Much Servicing Is Being Transferred

Transfer of mortgage servicing rights, especially from banks to nonbanks, has been widely discussed over the past few years, but Fannie Mae and Freddie Mac aren’t saying how much is changing hands. One investment banking official who sells MSR for a living said he believes that through the first nine months of 2014, about $350 billion in agency receivables changed hands, but has no solid evidence to back it up. In fact, several servicing advisors contacted by Inside The GSEs declined to take a stab at making an estimate. According to Inside Mortgage Trends, an affiliated newsletter, commercial banks and thrifts have reduced the unpaid principal balance of home loans they service for other investors by $357.6 billion in the ...

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