A more permanent shift to hybrid work models will lower loans’ cash flows and make lenders less interested in refinancing office loans, according to Moody’s.
SPS is the nation’s largest servicer of nonprime mortgage assets. It also happens to be an orphan. The company is owned by Credit Suisse, whose new owner, UBS, isn’t likely to keep it.
First Republic Bank’s share price declined even after 11 big banks deposited $30 billion into the institution in a show of support. Western Alliance Bank has fared better, without coordinated support from other banks.
The first quarter hasn’t exactly been a barn-burner for MSR sales and the recent bank liquidity crisis hasn’t helped. However, some buyers might take advantage of the fears of others.