Volume 2014 - Number 10
March 13, 2014
Steadfast Offers ‘Term Loan’ Program to Help Nonbanks Build MSRs, But Will It Catch Fire?
Steadfast Capital, in conjunction with its partner, Customers Bank, has launched a program that will offer long-term loans collateralized by mortgage servicing rights to nonbanks. The goal is to help these firms retain MSRs and possibly buy receivables in the secondary market. Until now, most commercial banks would only make one-year “working capital” loans to non-depository mortgage firms. Steadfast and Customers will extend credit with terms of up to six years. “A one-year loan is...
Subscribers to Inside Mortgage Finance have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.
Subscriber Log In
If you are a current subscriber or already purchased this article, please login below.
A weekly "must read" for industry executives. Thoroughly covers regulatory, political, legislative and market issues in the residential mortgage business.
You can purchase this article for $55.00 without subscribing and always have access to it on insidemortgagefinance.com.
Please contact Customer Service if you need assistance: 1-800-570-5744