In early July, the REIT closed on its previously announced $190 million purchase of Shellpoint Partners, an acquisition that includes mortgage banking firm New Penn Financial.
Mortgage originations rallied in the second quarter of 2018 with most lenders reporting solid gains from a sluggish start to the year, according to an exclusive Inside Mortgage Finance ranking and market analysis. [Includes two data charts.]
With nonbanks continuing to gain share in mortgage origination, servicing and securitization, their ability to raise fresh capital to appease government guarantors is becoming increasingly important – and comes at a difficult time.
Trends with housing inventory, home prices and interest rates appear to be holding back home sales and originations of purchase mortgages, according to industry analysts.