According to a new report from DBRS, more owners of servicing rights are opting to issue debt backed by their MSR portfolios.

Other lenders have gone the ancillary route as well, including Mr. Cooper and Ocwen Financial.

According to servicing broker Phoenix Capital, Texas accounts for the large chunk of the MSRs at 23%. Arkansas is second at 15%. 

“Independent mortgage bankers, venture capital firms and commercial banks are all looking to buy,” said Larry Charbonneau of Charbonneau & Associates, Houston.

PIMCO owns at least one mortgage company, First Guaranty Mortgage Corp., in Tysons Corner, VA. Earlier this year, FGMC launched a non-QM brand called Maverick…

Not all auction houses reveal their offerings and many deals that get done are privately negotiated with little in the way of publicity.

There’s also a lag time involved. A deal might be signed and completed but the MSR portfolios might not actually transfer to the new owner for several months.

Not only does the Mt. Laurel, NJ-based company rank seventh among originators, it’s also the 11th largest servicer.

At June 30, the REIT owned $441 billion of MSRs, a 9.7% increase from March 31. The figure exclude excess servicing rights.