How Has the Mortgage Servicing Software Market Size Evolved in Recent Years?
The mortgage servicing software market has seen considerable growth due to a variety of factors.
• The mortgage servicing software market has seen strong growth in recent years. It will rise from $5.16 billion in 2024 to $5.6 billion in 2025, with a CAGR of 8.5%.
The growth is driven by regulatory compliance, technological advancements, competitive market pressures, economic conditions, and rising customer expectations.
What are the Market Size and Expected Growth Rates for the Mortgage Servicing Software Market?
The mortgage servicing software market is expected to maintain its strong growth trajectory in upcoming years.
• The mortgage servicing software market is expected to reach $7.65 billion by 2029 at a CAGR of 8.1%.
This growth is driven by digital transformation, increasing mortgage volumes, rising customer expectations, and data security concerns. Trends include AI and machine learning adoption, cloud-based solutions, improved customer experiences, and integration with other financial services.
Which Key Drivers Are Propelling The Mortgage Servicing Software Market's Growth?
The increasing adoption of cloud services is expected to drive the growth of the mortgage servicing software market. Cloud services are becoming more popular as they offer remote work capabilities, support digital transformation, and address businesses' needs for scalability and agility. These services improve scalability, security, and accessibility, streamlining loan management and customer service. For example, in December 2023, Eurostat reported that 45.2% of enterprises in the European Union used cloud computing services, mainly for email hosting, file storage, and various tasks, marking a 4% increase from 2021. Large enterprises showed a 6% increase in cloud service usage from 2021 to 2023.
What Are The Key Segments Within The Global Mortgage Servicing Software Market?
The mortgage servicing software market covered in this report is segmented –
1) By Product: Cloud-Based, On Premise
2) By Application: Banking And Financial Institutions, Real Estate Companies, Other Applications
3) By End-user: Large Enterprises, Small And Medium Enterprises
Subsegments:
1) By Cloud-Based: Software As A Service (Saas), Platform As A Service (Paas)
2) By On Premise: Licensed Software, Customized On-Premise Solutions
Pre-Book The Mortgage Servicing Software Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What New Trends Are Influencing The Mortgage Servicing Software Market?
Leading firms in the mortgage servicing software market are concentrating their efforts on creating cutting-edge software platforms, like those based on artificial intelligence (AI), in order to strengthen their market position. AI-based software is an application or system utilizing AI techniques like machine learning, natural language processing, and computer vision, to carry out tasks normally requiring human intelligence such as data analysis, decision-making, language interpretation, and predictive analytics. For example, Sagent M&C LLC, a fintech software enterprise based in the US, introduced Dara in February 2024, which is a pioneering mortgage servicing platform. This platform consolidates all data and user experiences for servicers and homeowners throughout the whole servicing lifecycle. It is the first and only platform of its kind to power the entire servicing ecosystem, including core, consumer, default, loan movement, data, and AI, within a unified root system. It has the potential to reduce servicer operational costs by as much as 40% and is expected to go live for users in 2024.
Who Are the Key Players In The Mortgage Servicing Software Market?
Major companies operating in the mortgage servicing software market are:
• Fiserv Inc.
• Wolters Kluwer Financial Services
• SS&C Technologies Holdings Inc
• Finastra
• CoreLogic Inc.
• Dovenmuehle Mortgage Inc.
• Ocwen Financial Solutions Pvt. Ltd.
• Altisource Portfolio Solutions S.A
• Sagent M&C LLC
• Mortgage Cadence
• McCracken Financial Solutions Corp.
• MortgageFlex Systems
• Aspire Financial Technologies
• Nortridge Software
• Shaw Systems Associates LLC
• Applied Business Software
• Bryt Software
• Financial Industry Computer Systems Inc.
• Fidelity National Financial
• RealINSIGHT
• ICE Mortgage Technology
• Mortgage Builder Software Inc.
What Are The Regional Insights Into The Mortgage Servicing Software Market?
North America was the largest region in the mortgage servicing software market in 2023. The regions covered in the mortgage servicing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
