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Volume 16 - Number 26

January 4, 2013

Interest in MSR on the Rise, Values May Firm

Investment banking and advisory firms continue to talk about private equity money eyeing the mortgage servicing market, but so far no one has made a major plunge.

Sterling Partners, a Chicago-area equity fund that hired Phoenix Capital’s Michael Lau back in the fall, plans to invest several hundred million in MSR, according to industry advisors familiar with the firm’s plans.

Sterling declined to comment on the subject. Lau, an executive vice president at Phoenix ...

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Poll

What is it going to take to convince lenders to loosen the credit box (i.e., remove underwriting overlays)?

The recent rep and warranty changes announced by the Federal Housing Finance Agency should go a long way in protecting lenders from future buybacks and help expand mortgage credit.
There won’t be any significant elimination of underwriting overlays until the government stops seeking huge mortgage-related penalties and settlements from lenders.
There shouldn’t be any expansion of the mortgage credit box since looser underwriting is what caused the recent mortgage crisis.

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