The nonbank share of owned servicing increased from 55.9% as of the end of March to 56.9% at the end of June. Much of that growth was driven by large firms, which are gobbling up MSR and subservicing. (Includes three data tables.)
When it comes to MSR sales, UWM is a frequent user, but in the first half of 2024 the company exceeded expectations. For now, its model is: Originate MSR, then sell them.
The second quarter offered a “shockingly flat” environment for the asset value of mortgage servicing rights. But with interest rates beginning to creep lower, the third quarter could be a different story.
Heavy bulk MSR sales volume helped several top nonbanks grow their agency servicing portfolios in the second quarter. Most of the top banks watched their agency servicing decline. (Includes two data tables.)
The rule would require mortgage servicers to only pursue foreclosure as a last resort and increase disclosure requirements. Loss-mitigation application requirements would also be streamlined.
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