Ocwen: “The company has executed on its previously-disclosed plans to re-enter the forward lending correspondent channel and continues to pursue a number of diversified replenishment and growth options, including MSR flow purchase arrangements and driving improved recapture rates within our existing servicing portfolio..."
If you’re wondering why the deal is taking so long, it’s because COH is a foreign entity and there are certain regulatory hoops to jump through. When originally announced, the sale was valued at $2.7 billion – all cash…
The package from IMA has 30 months of seasoning and FICOs of 735. Dovenmuehle Mortgage, Lake Zurich, IL, is the subservicer. The portfolio has a Northeast geographic concentration.
Roughly three years ago, Rushmore – a privately held nondepository – entered the origination market as a direct-to-consumer lender. Prior to that, it had been known primarily as a subservicing specialist.
Better.com’s other major backer is Citigroup. Better recently hired industry veteran William Buell to head the nonbank’s B2B platform. Buell has a deep resume, including stints at Bank of America, JPMorgan Chase and FirstKey…
The spate of M&A activity in the sector suggests that more deals could be in the works, given the attractive nature of being a subservicer compared to owning the servicing strip outright…
As part of Ditech’s dissolution, the company also disclosed that its reverse lending division – Reverse Mortgage Solutions – will be sold via a stock and asset deal to Mortgage Assets Management LLC for an undisclosed sum.
Varde partnered with Deephaven in 2014 to help fuel the lender's origination of non-QM loans. Pretium is a signficant player in the single-family rental market. Last fall the firm agreed to buy specialty servicer Selene Holdings from Lew Ranieri and his partners.
Quicken Loans signed a $32.5 million agreement with the federal government to settle FHA underwriting allegations that accused the nation’s largest direct lender with fraud. As part of the deal, the privately held nonbank – the creation of Midwestern businessman Dan Gilbert – did not admit any wrongdoing and will continue to originate and service FHA loans…
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