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Residential Mortgage Servicing Dips for Some of the Largest Bank Servicers

According to the latest U.S. Residential Mortgage Backed Security Handbook, servicing has dipped for residential mortgage loans for some of the largest banks in the sector.

Rob Chrisman reported that banks like Wells Fargo, JP Morgan Chase and Bank of America are among some of the larger banks that have seen a drop in residential mortgage servicing.

"Wells Fargo’s servicing dropped 2.9% from last year’s $1.5 trillion portfolio to $1.46 trillion in the third quarter of 2017. It is still the #1 servicer in the U.S. by portfolio volume," according to Chrisman.

"Wells saw a decrease in its servicing portfolio from last year, but that is balanced by its $51 billion acquisition of mortgage servicing rights from Seneca Mortgage Servicing. JPMorgan Chase Bank saw its servicing drop 4.87% from last year’s $864 billion portfolio to $821.9 billion in the third quarter of 2017."

To learn more about the decline in residential mortgage loan servicing for these major banks, click on the image above.

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