Wells Fargo – the nation’s largest home lender and servicer – has apparently won the bid for Seneca Mortgage and its $53.6 billion servicing portfolio, sending shockwaves through the market. But as Inside Mortgage Finance went to press this week, the jury was still out on whether this was a “one-off” opportunistic purchase or, perhaps, the start of a trend toward depositories showing renewed interest in mortgage servicing rights. For now, Wells isn’t...

Other bidders on the $53.6 billion MSR portfolio include JPMorgan Chase and New Residential…

The average loan balance on the $779 million MSR package is $241,000…

Over the past three years MountainView has sold $3.8 billion of whole loans as measured by unpaid principal balance…

Little is known about Eli Global, which bills itself as a “privately held investment firm” with 5,500 locations in 20 locations globally…

A higher dividend than what Fannie and Freddie pay?

Not only has the proposed sale of First Mortgage Co. fallen apart, but a recent lawsuit filed against the company by a new warehouse lending firm raises serious questions about FMC’s recent profitability and its future. As Inside Mortgage Finance went to press this week, FMC was no longer making new loans, but was still servicing its past production, estimated at $1.67 billion. Company owner and CEO Ron McCord – one of six defendants sued by warehouse provider CapLoc – said...

As the weekend approached it was unclear which suitor won the Seneca MSR portfolio…

According to Casey Crawford the recapitalized depository will focus on “loving and serving people.”

CHMI was launched a few years ago by the privately owned Freedom Mortgage, the nation’s seventh largest originator…