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Volume 22 - Number 18

August 31, 2018

With IPOs Closed, Some Nonbanks Find a Way

Privately held mortgage firms looking to raise capital by selling stock to the public face a grim reality these days, but alternatives still exist, namely private placement deals. Case in point is RoundPoint Mortgage, Charlotte, NC, the nation’s 15th largest subservicing vendor. Earlier this week, RoundPoint completed a $94 million capital raise accomplished through the sale of convertible preferred stock. The investor in the private placement was not identified. The company ...

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Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

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