Subservicer benchmark survey shows 27-point gap between best, worst performers

The latest subservicer benchmark survey from Garrett, McAuley & Co. highlights a significant performance gap among mortgage banking firms. The survey of 53 firms yielded composite scores that ranged from 53 to 80, a 27-point difference between the best and worst performers. This disparity suggests that while some firms are excelling in their subservicing operations, others are struggling to meet industry standards.

This performance gap matters because it can have a direct impact on customer satisfaction, loan performance, and ultimately, the bottom line for mortgage banking firms. In today's competitive market, firms that can efficiently and effectively manage their subservicing operations are better positioned to attract and retain clients, and to grow their business. Conversely, firms that lag behind may find themselves at a disadvantage, potentially leading to lost business and revenue.

As the mortgage industry continues to evolve, it's likely that subservicing will remain a critical component of mortgage banking firms' operations. Going forward, firms would do well to focus on improving their subservicing performance, investing in technology and process improvements to help close the gap with top performers. To watch next: how firms respond to these findings, and whether industry-wide initiatives emerge to help raise the bar for subservicing performance across the board.

Originally reported by housingwire.com. ASIDNews adds analysis for real estate & property readers.