- [01:34] There's $11 trillion in mortgage debt in the U.S. What's changed in mortgage subservicing is how much of that debt is actually subserviced today. It has been growing substantially since the early 1990’s when less than 1% of that total was subserviced. The most recent number is that $3.8 trillion is subserviced. That is about 34% of outstanding mortgage debt in the U.S. is currently subserviced.
- [04:25] The sophistication of what a subservicer, in general, can provide continues to improve and increase and warrants a credit union to look at what’s out there to see if it makes sense for their particular institution or not.
- [12:08] One of the biggest advantages of working with a subservicer besides expense and cost is regulatory risks associated with mortgage servicing and having a sole focus on mortgage.