Banks Retreat Again from Mortgage Servicing

National Mortgage News, Sept. 16, 2020–Christopher Whalen (subscription)
The decline in the bank share of mortgage servicing comes as nonbank lenders are taking the lion’s share of the expansion of volumes. Large nonbank lenders such as Rocket Mortgage, PennyMac, Freedom Financial and Mr. Cooper are taking the biggest share of refinance volumes across retail, direct and correspondent channels as the commercial banks withdraw. (MBA mention)