The shares of some of the nation’s largest mortgage servicers lifted Friday when JPMorgan Chase and Wells Fargo said they would sell mortgage servicing rights, The Street reports.
By Monday, the servicers shares had subdued a bit and remained mixed.
The Street had more on the effect of the JPMorgan/Wells Fargo MSR statement:
Mortgage servicers are essentially debt collectors. While the largest mortgage servicers continue to be JPMorgan Chase, Wells, Bank of America (BAC) and Citigroup (C), their share of the market has declined substantially over the past 12 months as non-banks have gobbled up MSRs and banks have actively reduced their presence in the market.Sponsor Content
Ocwen shares were up 1.06% to $45.81 late Monday morning, while shares of Nationstar were down by 1.4% to $41.79 and Walter shares were down by 0.84% to $35.71.