Eli Global, the owner of three active mortgage lenders, has a new name — Global Growth — and a new chairman — George Vandeman. Meanwhile, founder Greg Lindberg remains the sole owner of Eli.
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.
According to figures compiled by Inside Nonconforming Markets, in the first half of the year Deephaven ranked eighth among all expanded-credit mortgage lenders with total production of $650 million.
The lifting of the sanctions comes amid a recent report by Bloomberg that New Day Chairman Emeritus Joe Murin might be a candidate to be the next permanent president of the government guarantor.
In a recent investor presentation, Mr. Cooper touts that it’s fostering a “high trust” environment at the company, including an effort regarding communications with staff.
PiperJaffray said management expects to sell assets “to increase cash to prepare for” a 2021 unsecured debt maturity event. The research firm rates the nonbank’s stock as “underweight.”