An improvement in losses tied to mortgage servicing rights helped the nation’s servicers of home loans reduce their losses during the most-recent quarter.
Independent mortgage servicers and mortgage subsidiaries of chartered banks serviced an average of 95,129 loans for $16.219 billion as of Sept. 30, 2016.
Average mortgage servicing portfolios grew from three months earlier, when the average was 90,186 residential loans that were serviced for $15.094 billion.
Source: Mortgage Daily
