SPS, which has been servicing residential loans since 1989, handles a portfolio of about $180 billion, largely of loans in non-agency mortgage-backed securities.

Michael Cohen, former President Donald Trump’s former attorney, testified during the trial that he used proceeds from a personal home equity line of credit to pay off Stormy Daniels on behalf of Trump.

At March 31, U.S. Bank owned $347.7 billion of MSRs, ranking ninth among all servicing owners.

Ocwen received an exceptionally strong bid for some of its MSRs and opted to sell.

On an annual basis, mortgage applications were down 9.2%.

“We believe mortgage banking will provide additional service to our customers and eventually contribute to our profitability,” Bank OZK said.

More M&A for Chris George's CMG Mortgage...

Borrowers who received a loan from a merged company paid 9 basis points more, on average, than those who went with separate real estate agencies and lenders, according to a new study.

“The producers move over to a new firm and that’s it — that’s the M&A activity,” said David Fleig, who runs MorVest Capital, a servicing advisory firm.

Rocket plans to offer its AI platform to other companies later this year.