Last year, mortgage servicing portfolios fell by nearly a third, delinquency declined and loans serviced per employee jumped.
The 159 mortgage servicers surveyed for the Quarterly Mortgage Bankers Performance Report from the Mortgage Bankers Association serviced an average of 44,799 loans for $7.0 billion as of the fourth-quarter 2010.
In the prior quarter, 161 respondents serviced an average of 45,796 mortgages for $7.0 billion.
Servicer portfolios have tumbled from an average of 74,316 loans for $10.3 billion in the fourth-quarter 2009.
Government mortgages accounted for 19 percent of the lates servicing portfolios, while fixed-rate conventional mortgages made up another 56 percent.
Delinquency of at least 90 days at the reporting companies fell to 5.82 percent from 6.12 percent in the third quarter. A year earlier, the rate was 6.13 percent.
There were 955 loans serviced per full-time employee during the final quarter of 2010. Three months earlier the number was only 839, and it was even lower at 787 a year earlier.
Servicers employed an average of 110 full-time employees at an average cost of $60,191 as of the fourth quarter.
They earned $139 per loan serviced in the latest period, better than the third quarter’s $41 loss. Earnings per loan worked out to $37 a year prior.
The full report is available for purchase by calling 202.557.2830.
