As banks and non-bank lenders recently released earnings for the first quarter of 2022, two things became clear: Origination volume plummeted across the board, but those that managed to muster up a good quarter benefited from servicing portfolios. As refinancing became less appealing, lenders also sold off a large portion of mortgage servicing rights (MSRs), cut costs and diversified revenue stream to survive the mortgage storm.

Rocket Companies ($1 billion), United Wholesale Mortgage ($453.2 million) and Homepoint ($11.9 million) are among the non-bank lenders that benefited from the sale of MSRs, offsetting the decline in closed loan volume in the first details ⇒

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