Mortgage servicing takes center stage
Article Abstract:
Mortgage servicing has moved from being just a back-office operation into one of the most high-profile players in the residential-finance business. It has become a distinct business enterprise that can produce significantly higher profits than in the past and leverage new technology to cut loan administration costs. The rise to prominence of larger servicing portfolios enables businesses to enjoy economies of scale and concentrate decisionmaking into fewer people. The result is more attractive incentives, greater ability to minimize costs and manage business risks.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1996
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Mortgage servicing: surviving the competition
Article Abstract:
The mortgage bank market is predicted to become more competitive in 1992, pushing out smaller companies in favor of larger, more efficient ones. Better management, cost control and service strategies are needed to avoid mortality. Factors contributing to this trend are the increasing cost of servicing loans, poor cost controls including unneccesary expenditures on technology-intensive equipment and the rapid acquisition of small to medium-sized companies by larger firms.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1992
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Business as usual: foreclosure work remains vital
Article Abstract:
The foreclosure aspect of the mortgage business will remain ingrained regardless of what changes influence the servicing industry. Although servicers are striving to eradicate the existing pool of loan defaults in their portfolios, new-purchase and refinance business written during the low-interest-rate days between 1992 and 1994 will produce peak defaults starting in 1996 up to 1997.
Publication Name: Secondary Mortgage Markets
Subject: Economics
ISSN: 0740-4271
Year: 1996
User Contributions:
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