Franklin Codel of Wells Fargo noted that while it’s a challenging time in the economy and for lenders, many agree that quality and clarity of who owns the risk matters.
The sale of RoundPoint Mortgage Servicing has fallen apart with the bidder walking away from the table, according to industry advisors close to the transaction. Sources indicate that Tavistock Group, the owner of the nation’s 24th largest servicer, still has an interest in finding a buyer for the servicer/lender, but for now no deal is imminent. Tavistock bills itself as an international private-equity firm with a strong interest in finance, real estate and other sectors. The firm is headquartered in the Bahamas. An advisor close to the transaction declined...
Sometimes lost in the hoopla over the rising nonbank share of mortgage servicing is that banks have fallen in and out of love with the servicing market for decades.
“We are extremely concerned that, one year after the CFPB’s mortgage servicing rules went into effect, we are still finding runarounds and illegal dual-tracking,” said agency Director Richard Cordray.
J.P. Wieske, legislative liaison and public information officers for the WIC, confirmed that the state has made an information request, but would not address content.
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