Despite growth in the size of their portfolios, mortgage servicers saw deteriorating earnings thanks to lower gains on mortgage servicing rights.

Average portfolios at independent mortgage servicers came to 84,211 loans for $13.992 billion during the first quarter of this year.

Servicing portfolios expanded from the preceding three-month period, when the average worked out to 82,230 loans for $13.932 billion.

Source: Mortgage Daily