Freedom has big expansion plans for the new year. Company CEO and founder Stan Middleman recently told IMFnews Daily that he plans to hire between 200 and 500 residential loan officers in 2014.
Will well-known mortgage trainer Barry Habib stick with Residential Finance Corp., a company whose assets are in the process of being sold? Its hard to say since RFC isnt answering questions on about the firms future.
What's ahead for residential lenders and servicers in 2014? You might be surprised at some of our predictions. Hint: The servicing market looks good, at least.
As an industry, banks assigned a fair-market value of $48.4 billion to their mortgage servicing rights, according to figures compiled by Inside Mortgage Trends.
Sales of several bulk portfolios of mortgage servicing rights were still pending as yearend approached, with talk increasing about a busy year in the mergers and acquisitions market for 2014. As always, the driver of such talk was interest rates: Higher rates are causing MSRs to increase in value, while a slowdown in refinancing is scaring many under-capitalized nonbanks into considering the once-unthinkable: selling out or partnering with a competitor. Originations are...
It may sound complicated, but it appears that Nationstar is selling a portion of its MSR fee on certain rights so it can deleverage and buy even more servicing.