When it comes to mortgage-related M&A, 2019 was a bust, right? Well, not exactly. As for 2020, company sales will hinge on rates and loan production. Will weaker players be forced to exit?
The megabanks begin reporting fourth quarter results in about 10 days. Mortgage market leader Wells Fargo Bank will release its numbers before the opening bell on Jan. 14.
Redwood also revealed deferred stock units/awards to its five most senior executives. Abate will take home $1.875 million in DSUs, Robinson, $2.25 million.
No rate hikes in 2020? A totally “neutral” Fed? We’ll see about that. Meanwhile, non-QM lenders Angel Oak Mortgage Solutions and Citadel Servicing have bulls in their eyes.
The company, a player in non-QM lending, renewed a shelf registration with the SEC but it’s unclear whether it will tap the capital markets. Meanwhile, Mr. Cooper is redeeming some notes early.
GSE recap-and-release work will generate millions of dollars in fees for the lucky advisory firms. In a few weeks, the FHFA is expected to announce its counsel.
Most subservicing vendors continued to see a growth in contracts during 3Q19, but a few specialists are heading for the exits: Ditech (via a bankruptcy sale) and RoundPoint, which is being bought by Freedom Mortgage. (Includes data chart.)
2019 seemed like a slow year for mortgage-related acquisitions, but if you look beneath the surface, deals were getting done, particularly in the non-QM sector.