As promised, CMG is once again adding to its retail branch network, this time in New England, thanks to its onboarding of staff from Shamrock Home Loans.
With the supply of MSRs expected to grow, there are concerns that prices won’t hold up. Meanwhile, the CFPB is considering incentives for lenders to retain servicing.
In the smoke and dust of a production collapse is the best time to be a buyer of other shops. That’s the philosophy of CMG Mortgage, now a top-20-ranked lender that should continue to climb in the league tables.
What are nonbanks getting for their servicing rights in the secondary market and how much of a right does Fannie Mae have to that information? Hard to say, but some factions of the industry are bristling at inquiries from the GSE.
With interest rates continuing to head north, servicing-related assets are becoming more valuable in a parched origination landscape. SLS, a large servicer, will have a new parent and other deals may be in the works.
MSR prices, especially for conventional low-coupon product, have firmed up nicely. Some large holders are cashing in. But others are choosing to live off processing income until originations snap back.