GSO to Fortress Drawn to Servicing as Banks Retreat

GSO to Fortress Drawn to Servicing as Banks Retreat

Daniel Acker/Bloomberg

The balance on mortgages handled by servicers declined to $9.81 trillion in the second quarter from a high of $11.2 trillion in the first quarter of 2008, as more Americans paid down debt or lost property to foreclosure, according to data compiled by Bloomberg from Inside Mortgage Finance.