“We don’t recommend that you hire a mortgage broker” for rate shopping purposes, says Consumer Reports magazine...

Texas is well represented in the bulk package being offered by Phoenix Capital.

Sources contend that Nationstar Mortgage has ceased bidding on flow deals, preferring to shop for bargains in the conventional bulk market.

The days of it being a seller’s market for mortgage banking franchises appears to be over, with current owners are increasingly unwilling to part with their companies at reduced prices. As one merger-and-acquisitions specialist put it, “It’s just hard getting deals done these days.” It looks like a case of supply and demand – and, of course, cash. At the very least, sellers want to receive book value for their companies plus some type of “earn-out” that could last up to 10 years. According to interviews conducted by Inside Mortgage Finance over the past week, the ratio of buyers to sellers has...

A major snag on getting deals completed is the "earn-out" agreement.

Most people who are not in straight-jackets believe the chances of GSE reform by 2016 are pretty much zero. Just in case you were wondering and needed a reminder…

A major cross-selling opportunity? A report from Credit Suisse notes that, “Every month, JGW receives over 60,000 inbound calls from consumers…”

The seller was not identified by Phoenix, but in the offering circular the firm is identified as “an independent mortgage banker established in 1990.”

“If something goes wrong, Ocwen will be on the hook,” said this source. “But it’s really clean stuff.”

The identity of the bank could not be confirmed at press time...