In a bid to diversify its product offerings, New York Community Bank is merging with the mortgage-centric Flagstar. Three other depositories are engaged in M&A deals as well.
The combined entity will be a more diversified commercial mortgage real estate investment trust, with assets expected to reach $1 billion when fully invested.
Bank acquisitions in the mortgage space have been few and far between the past few years. Still, officials at Western Alliance believe it makes perfect sense for the bank to acquire AmeriHome Mortgage.
It’s not every day that a lender commits to sell $34 billion of MSRs. IMA is the investment banker on the package and speculation is rising on who the seller might be.
CoreLogic’s largest shareholders have raised doubts over the data vendor’s commitment to carrying out a full and fair sales process. The company is in talks with potential buyers at a value of at least $80 a share.
Pretium Partners and a unit of Ares Management will acquire Front Yard Residential in a deal valued at $2.4 billion. The move follows recent complaints from shareholders regarding mismanagement.