The letter to members of Congress is notable for which trade groups didn't sign on, including the American Bankers Association and Mortgage Bankers Association.
The secondary market for mortgage servicing rights is starting to look a bit frothy, so much so that many bulk offerings today garner upwards of 12 bidders per auction. A year ago just a handful of investors showed up. But that isnt deterring Michael Lau, CEO of Pingora Asset Management, who earlier this year raised $500 million to buy MSRs. Lau said Pingora is plowing ahead with its acquisition plans, careful not to overpay while concentrating on flow deals on new originations. Were actively doing...
The city councils favorable vote represents a rare notch in the win column for MRP, which has suffered numerous defeats in local jurisdictions across the nation, likely at a substantial loss to the firms financial backers.
Two Harbors revealed that it sold several billions of dollars worth of agency MBS in the third quarter as the assets became less attractive with rising rates. The proceeds will be used to buy MSRs.