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Survey shows just how reliant on subservicers lenders are
['Capital Markets Editor', "Bonnie Sinnock Is National Mortgage News' Capital Markets Editor At Arizent", 'Has Worked For Nmn', 'Affiliated Publications Since Her...', 'Originations Editor', 'Staff Writer']
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Processing ContentA recent Stratmor survey shows that subservicing acquirers like Pennymac , Carrington and Rocket Mortgage are investing in a service that the majority of the industry uses.
The survey found that 52% of the senior executives from 68 mortgage lenders who responded said their companies exclusively subservice.
The competitive landscapeMost, or 83.3% of those that do work with subservicers said they would ideally work with just one, Stratmor found.
The competition raises the possibility of price compression for subservicers but Stratmor reports that its survey shows lenders value experience with borrowers and consumer satisfaction more.
However, lenders answering the survey also said that they want to ensure that the borrower's loyalty stays with them, with 71% reporting that they are more wary of subservicers that originate.