CrossCountry Mortgage owner Ron Leonhardt wants his nonbank to be the largest lender in the land. One way to do that is to buy other shops — and it looks as though CCM has another target in its sights.
Finance of America is ready to unload the last remains of its MSR portfolio. But it comes at an interesting time: Rates continue to fall, thus impacting asset prices.
While interest rates have declined in recent weeks, concerns persist about the wide spread between the 10-year Treasury rate and interest rates on mortgages.
To many in the industry, it looks as though the worm has turned and lower rates are a sure thing, thanks to recent benign inflation readings. But maybe not and that’s why CHLA is continuing its efforts regarding MBS buyers and more.
When it comes to warehouse finance of nonbanks, one lender’s exit could be another’s opportunity for future growth, at least that’s what executive Kevin Mitzit of Wintrust is hoping for.