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Home » Store » News » Nonbanks Still Building Share in GSE Market

Nonbanks Still Building Share in GSE Market

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Nonbank servicers accounted for a slightly larger share of the GSE servicing market at the end of the third quarter of 2015, despite the fact that one of the largest nonbanks was pulling back. Nonbanks serviced some $1.28 trillion of loans backing mortgage-backed securities issued by Fannie Mae and Freddie Mac at the end of September. That represented 28.7 percent of the “known” market, up from 28.5 percent at the end of the second quarter. Because of limitations in MBS pool-level disclosures, unknown servicers accounted for about 7.8 percent of the market as of September. The nonbank market share was up even though Ocwen Financial saw a 42.9 percent drop in its GSE servicing during the third quarter...
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