Current Servicing Market; 2016 LO Turnover Survey

Posted To: Pipeline Press

Every lender should know a little about demographics . The Millennials receive the publicity, but the population aged 65 and older is expected to grow by 66 percent through 2035, an increase of more than 31.4 million. Given that the entire adult population is projected to grow by 49 million during this twenty-year period, the disproportionate rise in the cohort aged 65 and older will shift that group’s share of the population from 15 percent to 21 percent. The Servicing Markets The servicing market continues to be the subject of conversation. With $1.6 trillion (yes, with a “t”) of servicing Wells Fargo is still the alpha gorilla. But non-banks such as Freedom Financial (with roughly $100 billion in servicing) continue to gain ground, and there are plenty of companies servicing a billion or…(read more)

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Source: Mortgage News Daily

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