The mortgage servicing rights (MSR) market has been very active this year, with robust deal flow that is on par with last year’s record $1 trillion in trading volume and with generally good pricing for MSR packages, industry experts agree. 

A fly in the ointment, however, particularly for some independent mortgage banks (IMBs), is the elevated risk of agency loan-repurchase demands — triggered by loans that violate Fannie Mae’s or Freddie Mac’s rep and warranty policies due to some defect discovered during the agencies’ post-origination quality-review processes.

Industry players who details ⇒

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