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.
A significant chunk of the big fourth-quarter increase in agency MSR transfers came from Freedom Mortgage's acquisition of RoundPoint Mortgage Servicing. But total servicing transfers for 2020 fell well short of recent years. (Includes three data charts.)
A survey of servicing executives by Fannie Mae found that the companies are having difficulties keeping up with forbearance requirements. Staffing capacity is also an issue.
Industry watchers believe mortgage servicers have a lot on their plate this year in terms of compliance with CARES Act forbearance, state-level relief guidance and limitations on foreclosures.
Only 18% of borrowers who refinanced during the third quarter remained with their previous lender/servicer. The reason: Competing lenders offering lower rates.