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Lenders Marking Down MSR Portfolios.(Chase Manhattan)(Brief Article)
Mortgage Servicing News
|
November 01, 2002 |
COPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
At midyear, Chase Manhattan Mortgage here valued its $435 billion
residential servicing portfolio at $5.68 billion.
So what, you may ask, but consider this: Chase's portfolio is now worth almost 20% less than the same period a year ago, even though its servicing portfolio today is 11% larger.
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Source: HighBeam Research, Lenders Marking Down MSR Portfolios.(Chase Manhattan)(Brief Article)