For servicing auctions to truly proliferate, the Federal Reserve would need to end its stimulus program. In other words, if rates don’t rise much from here, deal volume could be muted. Meanwhile, buyers with cash are waiting.
It’s early in the quarter but potential investors in MSRs are wondering when the auction action might start. So far, few large portfolios have been put on display. But that could change.
Blend Labs netted $360 million from its IPO at a valuation of more than $4.0 billion. Meanwhile, Better Mortgage is in the process of going public via a SPAC.
Nonbank originators that have been hoarding MSRs for the past 16 months are sitting in the catbird seat. Some bids are just shy of top dollar. Time to pull the sales trigger?