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American Capital doubles down on MSRs

April matches 1Q2014 MSR investments

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American Capital Mortgage Investment (MTGE) is ramping up its mortgage-servicing rights deals, investing more in April than it did in the entire first quarter.

In the company’s first-quarter earnings, it reported that it invested $23 million in MSRs during the quarter.

But in April alone, American Capital invested an additional $25 million.   

“We continue to broaden our investment capabilities with the integration of Residential Credit Solutions, Inc. and have started acquiring MSR investments," Gary Kain, President and Chief Investment Officer of American Capital said.

As a whole, the company reported net income for the first quarter of $48.8 million, or $0.95 per share.

And America Capital is not the only company expanding its reach into MSRs.

"We remain confident that 2014 will be a favorable year for MSR transactions. Large banks will likely continue to sell high-touch servicing, while higher interest rates and a better economic backdrop could further improve MSR values," said CEO of New Residential (NRZ) Michael Nierenberg in a letter to investors

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