Banks and thrifts mortgage servicing rights are starting to uptick in correlation with the turning point in mortgage interest rates and refinance activity, an article from Inside Mortgage Finance explains.
According to the article, the industry serviced about $5.18 trillion of home mortgages for other investors at the end of the first quarter of 2013, dropping 3% from the end of last year.
As a whole, the industry estimated a fair market value of $43.76 billion for their MSRs at the end March, with the ratio of fair value to MSR principal balance rising to 0.84% from 0.77%, the article said.
