The portfolio churning associated with refinancing appears to be reducing the productivity of loan servicing shops, according to research from the Mortgage Bankers Association of America.The research was presented by Tony Ebers, executive vice president of IndyMac at the MBA's national servicing conference in New Orleans. The number of loans serviced per employee fell 11% in 2001 as the refinancing share of lending activity picked up steam. Lenders serviced 1,034 loans per employee in 2001, down from 1,162 in 2000. The MBA's website address is http://www.mbaa.org.
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