Grapevine: A few days ahead of a scheduled bankruptcy auction, New Residential Investment Corp. has swooped in and made a "stalking horse" bid. Meanwhile, a big promotion at Fannie Mae and a record month for Guaranteed Rate.
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.
Bipartisan legislation addressing the appraiser shortage is under consideration in the Senate while legislation reauthorizing the National Flood Insurance Program for five years was introduced in the House. The House Appropriations Committee also has approved the fiscal 2020 HUD spending bill.