RS Edge: WALA Ramps for Non-Bank Servicers

In 2019, the non-bank servicing sector continued to grow faster than traditional bank-servicers. As a group, non-bank servicers now represent nearly half of the agency MBS market, with outsized representation in newer-production mortgages. Their aggressive refinancing has driven speeds on in-the-money mortgages to post-crisis highs, and we believe this behavior will continue into 2020.   But within...

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