Two months after buying AmeriHome Mortgage, WAB is carving up its massive servicing portfolio and selling chunks to the highest bidder. What’s going on? Profits, for one.
Bulk servicing sales are beginning to catch fire. Credit: rising rates and slower prepayment speeds. Moreover, dealmakers anticipate a red-hot third quarter for transactions.
Some investors in mortgage equities are putting their money to work elsewhere, but that hasn’t stopped fintech lender Better.com from entering into a SPAC/IPO maneuver. Launch time: the fall of 2021.
Last week, word began to leak out that Caliber Home Loans was talking to New Residential Investment Corp. about a deal. Turns out, the sale chatter was true.
SoftBank places a $500 million bet on the digitization of residential finance by taking a stake in Better.com. Also, mortgage earnings season has begun.