Banks and thrifts decreased the amount of mortgage servicing they handle for other entities in the first quarter. Meanwhile, valuations for the servicing asset increased for the third straight quarter. (Includes data table.)

AI won’t necessarily reduce costs for servicers, but the technology can improve processes and borrower retention, according to industry participants.

Carrington Mortgage Services was the top bulk buyer of agency MSR in the first quarter of 2026, thanks to a large acquisition of Ginnie servicing from Pennymac. Bayview Asset Management was the top buyer in the coissuance market. (Includes three data tables.)