Gains from mortgage-servicing rights helped the nation’s servicers earn more during the latest quarter. Productivity substantially deteriorated, though, from a year ago.

Independent mortgage servicers and mortgage banking subsidiaries of chartered banks serviced an average of 96,992 loans with an unpaid principal balance of $16.643 billion as of March 31.

Average servicing portfolios increased from 94,760 loans for $16.110 billion three months earlier and 76,256 loan for $12.758 billion one year earlier.

Source: Mortgage Daily