When it comes to mortgage-related M&A, 2019 was a bust, right? Well, not exactly. As for 2020, company sales will hinge on rates and loan production. Will weaker players be forced to exit?
Some lenders that were looking to throw in the towel after a rough first quarter experienced strong originations and returned to profitability as interest rates fell, putting the brakes on M&A activity.
The decline in interest rates earlier this year increased originations and income for lenders and delayed some M&A activity. The lower rates also provided lenders with time to prepare for the future.
Falling interest rates are sometimes a bad thing — case in point is Mr. Cooper and negative MSR marks. Also, it’s been somewhat quiet on the M&A front but perhaps a change is in the wind.
Is the long-awaited boom in mortgage mergers and acquisitions finally here? The sale of RoundPoint to Freedom Mortgage is sparking hope, but a villain has appeared: falling interest rates.
The ailing Ditech Financial signaled in a new SEC filing that it will no longer file public reports on its quarterly and monthly results. The move comes days before bids are due on the franchise.
Ditech is once again operating under Chapter 11 bankruptcy protection. But its problems, like a top subservicing client wanting out, are accelerating. Can the firm's advisors sell the shop before it's too late?
Ocwen Financial, the nation’s 12th largest servicer, has reached a civil settlement with the Massachusetts Office of the Attorney General, to resolve a complaint filed by the state in 2017. As part of the agreement, Ocwen will make a $675,000 payment and provide relief to residential borrowers. The Massachusetts AG said the settlement involves total restitution of $2 million. The AG alleged that Ocwen committed “widespread mortgage servicing violations that increased Massachusetts ...