For an industry thats looking at a 30 percent decline in originations, were seeing a great deal of SEC 13-d filings by investment funds that are upping their stakes in such players as MGIC, Radian, Ocwen, Walter, EverBank and the like.
Since Mel Watt was sworn into a five-year term as Federal Housing Finance Agency director on January 6, the former North Carolina Congressman has made no public appearances or policy statements except for canned comments attributed to him in routine FHFA press releases.
Despite the news concerning a possible sale, PHHs share price on Wednesday was trading up, but not by much. Its price is still more than $1 below its 52-week high of $26.76.
Orange Capital is a private equity firm that has been gobbling up stakes in PHH Corp. over the past year. A few months back Inside Mortgage Finance first reported that PHH might be a takeover target.
According to interviews conducted by Inside Mortgage Finance, Laus company, Pingora Loan Servicing, has amassed roughly $10 billion in MSRs in less than nine months.