Agency Servicing Market Continues Growing In Shrinking Residential Mortgage Business
June 14, 2012
The agency mortgage servicing market continued to grow during the first three months of 2012, although there is some evidence that banks are beginning to pull back from the sector. The Federal Reserve late last week reported that the total supply of home mortgage debt outstanding fell by 0.9 percent during the first quarter. It marked the 16th consecutive quarterly decline since the first quarter of 2008, when the housing market began to crater. The agency estimated that $10.179 trillion of home loans were outstanding at the end of March, the lowest level since...(Includes three data charts)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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