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Home » Store » News » Market for Large ‘Legacy’ MSR Packages Near Dead, but Flow and Mini-Bulk Humming Along

Market for Large ‘Legacy’ MSR Packages Near Dead, but Flow and Mini-Bulk Humming Along

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The market for large packages of “legacy” mortgage servicing rights is ice cold these days, throwing a monkey wrench into the aggressive growth plans of Ocwen Financial, Walter Investment Management and Nationstar Mortgage. The reason is simple: regulatory scrutiny from the New York Department of Financial Services of Ocwen’s planned purchase of $39 billion in highly delinquent MSRs from Wells Fargo has dampened both auctions and sales. “Legacy packages are still out there,” said one buyer of mortgage receivables, “but I don’t see many of them and they’re not very large.” He added...
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