Of the dozen or so mortgage company sales that have been announced over the past two months, just one has involved a servicing portfolio of any size and even that transaction – $1.5 billion of mortgage servicing rights owned by Continental Home Loans – was small. In today’s merger and acquisitions market, it’s all about building loan origination capacity as buyers such as Freedom Mortgage, LoanDepot and Guild Mortgage try to keep growing. Moreover, this thirst for production comes...
The mortgage insurance industry lost a key political ally with the reelection defeat of first-term Democratic incumbent Sen. Kay Hagan of North Carolina.
The FHFA has decided not to have a chairman for Common Securitization Solutions. Instead, the unit will be governed by a four-person "board of managers."
A recent research note from Sterne Agee predicts higher operating costs for Ocwen because of its ongoing regulatory disputes with the New York Department of Financial Services.