Other servicing brokers are still assessing market conditions with some rate watchers like Barry Habib cautioning against a “head fake” on where things may wind up.
Rising interest rates – as long as they don’t rise too much – could spark a boom in servicing sales, predicted Tom Piercy of Incenter Mortgage Advisors.
CEO Messina added: “We are continuing to evaluate possible additional sales of our remaining MSR portfolio and to evaluate the best course of action for our real estate and servicing platforms, which we expect to complete by the end of January 2017.”
HomeBridge Financial Services this week agreed to buy the assets of Prospect Mortgage, marking one of the largest acquisitions of the year and stoking the hopes of investment bankers that more deals may lay ahead. But HomeBridge’s purchase of Prospect could turn out to be an anomaly. According to HomeBridge CEO Peter Norden, the two parties had been talking on and off about combining forces for roughly five years. For Norden, the combination of the two nonbanks – both privately held – is...