Independent servicers swung to a quarterly loss on their loan portfolios, with bigger servicers operating in the red and their smaller counterparts being profitable.
Among independent mortgage bankers, the average residential loan servicing portfolio was 80,088 loans for $13.773 billion as of the third quarter of this year.
Average portfolios were 80,374 loans serviced for $13.649 billion as of three months earlier and stood at 73,465 loans serviced for $12.188 billion a year earlier.
That was according to the Quarterly Mortgage Bankers Performance Report Q3 2015 from the Mortgage Bankers Association.
Second- and third-quarter 2015 data for the report reflects survey results from the 201 servicers that participated during both periods, while the third-quarter 2014 figures reflect activity from all 227 servicers participating in that period’s survey.
An average of 1,281 loans were serviced per servicing employee, more than the 1,155 average in the second quarter and the 1,172 average in the third-quarter 2014.
Personnel expenses worked out to just under six BPS, lower than just over six BPS three months earlier and 12 months earlier.
Independent mortgage servicers had a two-basis-point loss in the third-quarter 2015, swinging from a profit of 11 BPS in the prior period and seven BPS in the year-earlier period.
Servicers with portfolios of less than 2,500 mortgages earned a three-basis-point profit in the most-recent quarter.
But mortgage servicers with portfolios in excess of 50,000 loans had a 10-basis-point loss.
