Volume 2014 - Number 23
June 12, 2014
Lots of Talk About Mortgage M&A, but Not Many Deals Getting Done; Institutional Investors Holding Onto PHH
Waiting for a large merger or acquisition to happen in the mortgage market is a bit like waiting for Godot: there’s plenty of talk about his arrival, but he may never show. “Right now there’s a large discrepancy between what the buyer wants to pay and what the seller wants to sell at,” said Chuck Klein, managing partner in Mortgage Banking Solutions, Austin, TX. “Any company that’s making money will not sell at just book value.” One large company that likely will not be sold this year is...
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