The great mortgage origination correction of 2023 hasn’t resulted in a whole lot of company franchises changing hands. But there’s been a ton of MSR sales and some branch networks finding new owners.
The tide is starting to turn in favor of servicing sales where higher note rates are involved. Don’t expect premium prices or a tsunami of deals, but at least it’s an outlet.
First the good news: Several shops are experiencing a strong second quarter, with production on the rise sequentially. Then again, the first quarter was notably weak. As for the rest of the year, executives are hopeful rates are about to peak.