Mortgage Servicing Market Continues Shrinking as Outstanding Home Loan Debt Hits 4-Year Low
June 16, 2011
The supply of home mortgage debt fell again in the first quarter of 2011 despite an increase in agency servicing, according to an Inside Mortgage Finance analysis of new data released by the Federal Reserve. Outstanding home mortgage debt declined to $10.458 trillion as of the end of March, down 0.7 percent from the end of 2010. That marked the 12th consecutive quarterly decline in the supply of mortgage servicing and took the market back to a level not seen since the end of 2006. Since peaking in the first quarter of 2008, the volume of home mortgage debt outstanding has...[includes two data charts]