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Home » Topics » IMFnews » Mergers & Acquisitions

Mergers & Acquisitions
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Guaranteed Rate Hopes to be a Buyer of Other Companies

May 20, 2014
Paul Muolo
But would Guaranteed Rate ponder a sale? No, said company executive Ted Ahern. “We’re not for sale. We intend to stay that way.”
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Short Takes: East Coast-West Coast Mortgage Merger Afoot? / What, CitiMortgage Wants to Expand Its Presence in Mortgages? / A Sweet Deal for Ocwen’s New CFO / A Choice for Millennials: A House or a College Education

May 20, 2014
Paul Muolo, Thomas Ressler, and Brandon Ivey
Apparently, CitiMortgage wants to grow its presence in the origination market, including the correspondent channel where it has a slight pulse.
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Phoenix Offering $2.5 Billion in MSRs; SPS Ready to Close on a Large Package?

May 19, 2014
Paul Muolo
Meanwhile, industry sources said Select Portfolio Servicing is working on a large MSR acquisition, which could transfer shortly.
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What We’re Hearing: Sale of PHH Mortgage Moves Closer? / More Departures at Nationstar Mortgage / Lawsky and Ocwen: Status Quo / Sen. Warner Issues Warning to Colleagues on GSE Reform

May 16, 2014
Paul Muolo
Sources contend that three other top executives also have left Nationstar Mortgage. At press time, Nationstar’s media department had not returned telephone calls and emails on the matter.
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The Bloom Off the Rose for Nonbank Megaservicers? Walter Called a “Sell”

May 15, 2014
Paul Muolo
In trading, Walter was down almost 5 percent on the day. The stock fell to just under $28. Its 52-week low is $24, its high $45.12.
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Short Takes: One More Drink from the Refi Well? / Yet More MSR Deals / Coakley Lobbies Watt on GSE Principal Reductions / Stonegate Mortgage, a Screaming Short? / Trying to Put the Final Stake in Eminent Domain’s Heart

May 15, 2014
Paul Muolo and Charles Wisniowski
One Stonegate Mortgage watcher we know called the company an “absolute no-brainer short,” noting that when the lender went public “it was overvalued."
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A Deal May be Near for PHH Mortgage; Guaranteed Rate Plans to Buy, Not Sell

May 15, 2014
PHH Corp. is continuing talks with several potential buyers about its mortgage division but is revealing little information on when it might ultimately announce a deal. In a recent conference call with analysts, company President and CEO Glen Messina would only say that “we’ve been actively engaged in detailed discussions with several interested parties” regarding both PHH Mortgage and its fleet business. Messina would not provide any more color than that. As reported by Inside Mortgage Finance last month, possible buyers include...
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Meanwhile, Walter Relaunches Ditech; Former Freddie Executive to Head Effort

May 14, 2014
Paul Muolo
Richard Smith, chief marketing officer for Ditech, said the mortgages that the company originates will close in Ditech’s name, not in the name of Green Tree.
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The MSR Deals Keep Coming; BofA Selling Product to SLS

May 12, 2014
Paul Muolo and Brandon Ivey
A portion of the loans being bought by SLS are tied to 11 non-agency mortgage-backed securities.
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Short Takes: Former Bank CEO Looking at PHH Mortgage? / Midwestern Nonbank Hits the Auction Block? / Cole Taylor Mortgage Sale Crumbles After a Year / Willie Newman Will Return / JPM Continues to Slash Mortgage Staff / An Ugly Quarter for Impac Mortgage

May 12, 2014
Paul Muolo
A somewhat large Midwestern-based nonbank is now entertaining takeover bids. A deal could happen within 90 days, IMFnews has learned. Stay tuned…
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