Increasing Compliance Risk and New Entrants Help Subservicing Market Continue to Grow in 2015
September 24, 2015
The nation’s subservicing specialists increased their contracts by a modest 4.4 percent on a sequential basis in the second quarter of 2015, a sign that many originators would rather outsource the nitty-gritty chore of loan processing to others instead of doing it in house. Compared to the same period a year earlier, subservicing grew a more impressive 20.5 percent to $1.410 trillion, according to exclusive survey figures compiled by Inside Mortgage Finance. The increasing complexity and compliance cost of servicing make...[Includes one data table]
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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