The Guild acquisition was valued at approximately $1.3 billion.

Gain-on-sale margins and a strong recapture rate helped boost Guild earnings in the third quarter. 

Bayview Asset Management first acquired a stake in Guild Mortgage in 2020. BAM is on track to fully acquire the lender by the end of the year, after an effort by a competing bidder didn’t proceed.

Fannie will take the first losses on the transaction, with additional losses borne by Bayview and investors in the deal. That’s a change from the typical CRT from Fannie where a third-party like Bayview isn’t involved.

A ruling by a district court on a cybersecurity incident at Lakeview Loan Servicing could create challenges for other financial entities under the work-product doctrine.

The MBS is stocked with investment-property mortgages eligible for sale to the GSEs. Bayview Asset Management last issued a non-agency MBS on its Oceanview shelf in October 2022.

Bank exits and interest rate uncertainty could create new opportunities for nonbanks to acquire loans from depository balance sheets.

The enforcement action against Lakeview/Bayview Loan Servicing puts mortgage servicers on notice that they can no longer be lax about cybersecurity compliance.

The company allegedly failed to fully cooperate with state regulators following a data breach.

Some planned MSR sales are being scrapped because the seller has the MSR marked at a higher level than the highest bid.