Volume 2014 - Number 27
July 10, 2014
Although the MSR Market for ‘Legacy’ Product Remains Weak, ‘Flow’ Deals Rule the Roost
Thanks to lousy origination profits posted over the past six months, mortgage bankers increasingly are boosting earnings through servicing-released arrangements, causing a mini-boom in flow transactions. “You might say we’re back to a normal operating environment where originations are cash-flow negative,” which is forcing lenders to book profits through MSR sales, said Jeff Levine, managing director of Houlihan Lokey, an investment banking firm. But Levine is...
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