Since Monday of this week, four mortgage-related merger deals have been unveiled, setting in motion what could turn out to be a long awaited mini-boom in activity. But can it last? So far, all of the transactions entail small- to medium-sized lenders, with most facilitated through “asset purchases” as opposed to stock sales. The one exception is the announcement by the publicly traded EverBank Financial that it’s currently engaged in takeover talks with what it called a “well-respected financial services company.” EverBank, which ranked 40th in originations for the first half of 2016 according to a tally byInside Mortgage Finance, is...[Includes one data table]
Some banks nearly tripled their bulk MSR acquisitions in 2Q16. SunTrust, for example, bought $7.41 billion of GSE servicing during the period, making it the third most active buyer in the market.
The J.G. Wentworth Company is in the process of being delisted from the New York Stock Exchange, sparking rumors that its mortgage subsidiary – a $1.5 billion-a-year originator – might find itself on the auction block. For now, the parent company is putting a good face on the delisting and said its mortgage division, J.G. Wentworth Home Lending, had a strong first quarter. A spokeswoman for the parent did not address a possible sale of the lender in an email exchange with Inside Mortgage Finance. In the first quarter of 2016, J.G. Wentworth lost...
In 2015, Alterra Home Loans had a growth rate of 100 percent. The firm also has a small servicing portfolio but uses a subservicer to do the processing.
Recently, rumors were making the rounds in Washington that Fannie and Freddie might be pondering an increase in their net worth minimums for seller/servicers...
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