Three major nonbank mortgage servicers; Only one is profitable

The common view that nonbanks are taking over the mortgage space from the big banks in a meaningful way is being muted by a harsh-reality report from Moody’s Investors Service.

While nonbanks continue to make decent inroads on the originations side of the business, it’s the servicing side that’s proved more of a struggle.

According to a Moody’s review of 2015 financials at the three largest US non-bank mortgage servicers — Nationstar Mortgage, Ocwen Financial andWalter Investment Management — only one was profitable.

Read on.

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