So, You Want To Get Into Servicing
More loan production shops are getting into servicing, says Susan Graham, president and chief operating officer of Dallas-based Financial Industry Computer Systems Inc. (FICS®). Recent research backs up her observation.
Association (MBA) and PricewaterhouseCoopers LLP (PwC US), titled The Changing Dynamics of the Mortgage Servicing Landscape.
Tighter underwriting standards at large banks "due to caution about loan repurchases and new regulations" is a factor behind the growth of smaller firms, the study maintains. Another major development has been the ongoing adjustment of guarantee fees charged by Fannie Mae and Freddie Mac over the last few years.
Read the full article "So, You Want to Get into Servicing" published by Mortgage Banking.