Volatility Played a Heavier Role in First Quarter MBS Servicing, but Wells Fargo Remains Aggressive
July 7, 2006
The top commercial bank mortgage-backed securities servicers saw growth slow considerably in the first quarter to $22.01 billion. Servicing income also dropped in the $950.9 million from $1.47 billion in the fourth quarter and was down $667.4 million from the same period a year ago. The quarter reflects the volatility of MBS servicing as 17 of the top 40 banks saw servicing balances fall, including a $61.28 billion drop posted by Bank of America,… [One data table included]