The conforming-jumbo business might be an attractive target for shrinking the GSE footprint as the loan limit is poised to top $500,000. But it's not clear it would de-risk Fannie/Freddie business.
Growth in subservicing contracts slowed a bit in the second quarter as con-tinued low interest rates took their toll. It’s anticipated that once rates in-crease, more vendors could disappear through M&A.
Waterstone Bank plans to test the waters of the non-QM market, a niche that most depositories have avoided. Is this part of a growing trend or just an isolated detour into the unknown?
Mortgage Grapevine: MSR auctions have been few and far between of late, but all that may soon change. Meanwhile, Stearns Lending has secured the cooperation of its largest bondholder, PIMCO, to reduce its debt load. Now, it's just a matter of time and working with the bankruptcy court.
Nonprime lender Deephaven Mortgage soon will have a new owner: Investment fund manager Pretium Partners, the brainchild of former Goldman Sachs executive Don Mullen. Last fall Pretium agreed to acquire specialty servicer Selene Finance. It's scouring for other deals as well.
RSS