One twist: As part of the proposed transaction, Blackstone will take a stake in the Chicago-based GR. However, no specifics were provided.

Genworth said the mortgage insurer is “designed to meet its near-term liabilities of approximately $1.0 billion of debt due in 2021. An IPO of U.S. MI will be subject to market conditions as well as the satisfaction of various conditions and approvals.”

The agreement comes at a curious time: Servicing prices have suffered during the pandemic but are beginning to improve. In other words, bargains may be hard to find.

Credit unions are currently prohibited from purchasing MSRs as an investment. The proposal was opposed by the Democrat on the NCUA's board.

This year, mortgage bankers were making too much money and pushed aside the thought of selling. Next year might be a different story...

A proposed rule regarding credit unions and MSRs is scheduled to be discussed late this week at an NCUA board meeting.

Prices for bulk MSR assets are firming up as well...

Flagstar, a top-20 player in mortgages, recently posted a handsome $222 million profit for the third quarter.

Late this week there was talk in the market of two fairly large packages up for grabs: a $13 billion portfolio of conventional mortgage servicing rights and a $25 billion offering...

No press release on Freddie's website regarding Brickman's resignation. Why?