Income from operations at independent mortgage servicers has been stable even as residential servicing portfolios have been growing.
The average independent mortgage servicer had a servicing portfolio of 74,724 loans for $12.411 billion as of the second quarter.
Servicing portfolios grew from three months earlier, when the same firms serviced an average of 73,808 loans for $12.212 billion.
Those findings were based on the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report Q2 2014.
A total of 233 companies participated in the trade group’s survey, though quarter-over-quarter comparisons were based only on the 210 servicers that participated in both the first- and second-quarter surveys.
The average portfolio as of the second-quarter 2013 was 69,175 mortgages serviced for $11.070 billion.
There were 1,159 average loans serviced per full-time employee. Efficiency deteriorated from 1,178 three months earlier and 1,179 one year earlier.
Net operating income at servicers fell to a little over 12 BPS from nearly 13 BPS in the first quarter but was up from less than 12 BPS in the year-earlier period.
At companies that serviced fewer than 2,500 loans, net operating income sank to less than 1 basis point.
But it jumped past 17 BPS for those that serviced 2,500 to 10,000 loans.
Servicers with portfolios larger than 50,000 earned an average of 16 BPS in net operating income.
