Mortgage bankers take note: one fact that hasn't been widely reported is that the cost to service loans is beginning to rise, in some cases significantly. The Mortgage Bankers Association is still working on its annual cost survey but chief economist Jay Brinkmann noted recently that "costs per loan are way up." The reason for the rise? No secret there: loan modifications. Mr. Brinkmann was speaking at the annual servicing conference of National Mortgage News and its parent, SourceMedia.
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