One servicing advisor said he has “deals in progress,” just not as many as this time last year.

A large money-center bank recently agreed to pay north of six-times the servicing fee for a low-coupon MSR package.

Rithm has once again used its servicing rights in a capital markets deal. Why haven’t other MSR owners followed its lead?

Warehouse commitment levels are on the rise, a sign — perhaps — of better days ahead. Meanwhile, JPMorgan continues to dominate the space. (Includes data table.)

One bidder recently agreed to pay north of 6.25 times the servicing fee for a high dollar volume of agency MSR. Sound crazy? Maybe, but servicing prices are at a 25-year high for low-coupon product.

Cenlar was the runner-up with $742.0 billion of contracts at the end of 2024.

Not to be forgotten, Canada holds $156.0 billion of agency product.

It’s unclear, though, how this stratagem would simplify the “recap and release” of the enterprises.

Rithm on Monday closed an $878 million debt sale, this one collateralized solely by MSRs.

Nothing like a good trade war to drive down MBS values and cause interest rates to rise. Yes, some mortgage investors are nervous. Overblown? We’ll find out.