Diverse Group of Mid-Size Servicers Post Huge Gains in Otherwise Modestly Growing Business
May 4, 2006
A dozen or so mid-sized lenders are capitalizing on the burgeoning nonprime mortgage market to build up their servicing portfolios, according to a new analysis by Inside Mortgage Finance. Despite a downturn in mortgage originations, a robust housing market and continuing steady gains in house prices have helped fuel relatively strong growth in the mortgage servicing market. According to Federal Reserve Board data, the home mortgage market topped the $9 trillion mark at the… [Two data tables included]