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Subservicing.
Subservicers specialize in loan administration, offering a menu of services, usually on a private-label basis, to their clients. The clients maintain ownership of the servicing portfolio, but when the phone rings, it's the subservicer's job to answer it and solve the customer's problem.That means the subservier has to be able to manage multiple tasks on behalf of their clients, and always remember to answer the phone using the client's name.
Subservicing can in most cases be tailored to meet whatever particular needs a financial institution has.
The consumer in most cases is largely or wholly unaware that someone other than his or her own bank is handling loan administration and customer service. It's a neat way to let the owner of the servicing rights focus on their core competencies while outsourcing tasks that don't fit into their business strategy.
...- MSR Jolt Doesn't Derail M&T Bank.(mortgage servicing rights)(Brief Article)
- Magazine article from: Mortgage Servicing News December 1, 2004 700+ words
...impairment of mortgage servicing rights, the bank said...bank's mortgage servicing rights are valued at $131...capitalized mortgage servicing rights," chief financial...Copyright 2004 Thomson Media Inc. All Rights...
- Bids in for DVI servicing rights.
- Newspaper article from: Asset Securitization Report Donovan, Kevin November 10, 2003 700+ words
...fought to retain the servicing rights for its portfolio...terminate DVI's servicing rights and step in as servicer...who have bid on the servicing rights, what impact the...Copyright 2003 Thomson Media Inc. All Rights...
- FASB to Consider 'Fair Value' for Servicing Rights.
- Magazine article from: Mortgage Servicing News Collins, Brian March 1, 2004 700+ words
...accounting to mortgage servicing rights. The board members...start the mortgage servicing rights project at the request...true value of their servicing rights," Ms. Utermohlen...Copyright 2004 Thomson Media Inc. All Rights...
- Hedging: Why Does a Big Originator Hedge its Servicing Rights?(Brief Article)
- Magazine article from: Mortgage Servicing News October 1, 2002 700+ words
...protect its mortgage servicing rights from impairment...impairment to its servicing rights. When yields decline...reported having mortgage servicing rights worth about $100...Copyright c 2002 Thomson Media. All Rights Reserved...
- MSRs Force Mystic To Revise Earnings.(mortgage servicing rights)(Brief Article)
- Magazine article from: Mortgage Servicing News October 1, 2003 700+ words
...capitalization of the value of mortgage servicing rights." Mystic said the adjustment...had monitored its mortgage servicing rights to determine whether the value...ended June 30. Copyright 2003 Thomson Media Inc. All Rights Reserved...
- U.S. Bank wins DVI servicing rights.
- Newspaper article from: Asset Securitization Report Donovan, Kevin November 24, 2003 700+ words
...following numerous delays, U.S. Bank N.A. has won the servicing rights for DVI Inc.'s deteriorating portfolio of medical equipment...trusts upon completion of the transfer. Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia...
- Hibernia Takes an MSR Hit; But Doesn't Stumble on Earnings.(mortgage servicing...
- Magazine article from: Mortgage Servicing News November 1, 2002 700+ words
...million "provision for the temporary impairment of mortgage servicing rights" and an additional $1.4 million loss of securities...potentially reduce future net interest income." Copyright c 2002 Thomson Media. All Rights Reserved.
- Analyst Praises SunTrust's MSRs.(mortgage servicing rights)
- Magazine article from: Mortgage Servicing News October 1, 2003 700+ words
...were trading at just over $60, or about 12 times Sandler O'Neill's 2004 EPS estimate for the firm. Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.mortgageservicingnews.com
- SFAS No. 122 eliminates inconsistencies in reporting mortgage-servicing rights....
- Magazine article from: The Ohio CPA Journal Jordan, Charles E. Clark, Stanley J. Li, June F. February 1, 1996 700+ words
...their mortgage loans but retain the servicing rights to these loans. Retaining the servicing rights benefits a bank in two primary ways...collections. Although many banks maintain servicing rights when mortgages are sold, the market...
- Accounting for mortgage servicing rights. (Statement of Financial Accounting...
- Magazine article from: The National Public Accountant Ratcliffe, Thomas A. Stewart, Robert E. May 1, 1996 700+ words
...entitled "Accounting for Mortgage Servicing Rights." SFAS No. 122 amends SFAS No...accounting attributable to mortgage servicing rights associated with loan origination activities...retroactive capitalization of mortgage servicing rights related to transactions entered into...
Source: HighBeam Research, Subservicing.