Since the beginning of summer, at least eight mortgage-related merger and acquisition deals have come to light and more are on the way, according to an analysis by Inside Mortgage Finance. To date, most of the activity has involved nonbank purchasers, with at least two of the acquirers – Home Point Financial and Caliber Home Loans – having private equity behind them. And of the eight, only one involves the sale of stock through a “franchise” transaction ...
American International Group early this week announced an agreement to sell its mortgage insurance subsidiary, United Guaranty Corp., to Arch Capital Group for $3.4 billion in cash and securities as part of AIG’s plan to become a leaner, more profitable insurer. As of the midway point in 2016, UG was the top private MI in traditional new insurance written, with an 18.8 percent share of the market. Arch MI ranked as the smallest of the seven active firms, with an ...
Among the top 10 lenders in the second quarter of 2016, PennyMac Financial posted the largest increase to originations on a quarterly basis and compared with the second quarter of 2015, according to Inside Mortgage Finance. The lender plans to continue to grow, including launching a wholesale-broker operation in mid-2017 and putting an emphasis on consumer-direct production. PennyMac reported originations of $16.11 billion in the second quarter, up 47.9 percent ...
Initially, loanDepot planned to register 35 million shares of common at a target price of $16 to $18 a unit, which gave it a maximum valuation of $630 million.
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