Banks Coming Back to MSR Market, Some of Them, As Profitable Means to Acquire Clients
May 28, 2015
Nonbanks have indisputably bought a bigger share of the mortgage servicing market in recent years, but that doesn’t mean some banks haven’t been buyers during the migration. The servicing asset was a pariah not long ago, said Mark Garland, president of MountainView Capital Holdings, during a panel session at the recent secondary market conference sponsored by the Mortgage Bankers Association. “It was stepping into a buyback obligation. Suddenly, two years ago, it became the greatest asset ever,” he said. And although Bank of America, JPMorgan Chase, Wells Fargo and Citibank have pruned...
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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