Earnings at independent servicers of residential loans swung to a profit in the final quarter of last year. Behind the improvement were gains on mortgage servicing rights.
As of Dec. 31, 2016, an average of 85,676 loans were serviced for $14.786 billion by the average independent mortgage servicer and mortgage subsidiaries of banks.
Servicing portfolios grew from 84,157 loans for $14.459 billion at the end of the third-quarter 2016 and 73,118 units serviced for $12.101 billion at the end of 2015.
Source: Mortgage Daily