What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

IPO / M&AMortgage

AmeriHome could be valued at $1.3B following IPO

Apollo Global-owned mortgage lender and servicer to price between $16 and $18 as soon as next week

Lender and servicer AmeriHome on Wednesday laid out the terms of its upcoming initial public offering. The company plans to raise roughly $250 million by offering over 14.7 million Class A shares priced between $16 and $18, according to the amended S-1.

AmeriHome on Wednesday also revealed that mortgage investor Bayview Asset Management is prepared to purchase $50 million worth of shares in the offering, expected to price next week. AmeriHome, which is under the umbrella of private equity giant Apollo Global Holdings, is also expected to raise an additional $100 million in a concurrent private placement with Starwood.

Should the stock trade at the midpoint of $17 a share, AmeriHome would be valued at $1.3 billion.

The company is expected to make its debut on the New York Stock Exchange next week, trading under the ticker “AHM.”

The lender, based in Thousand Oaks, California, is a heavyweight in the correspondent channel, has a smaller consumer direct channel and sports roughly $88 billion in servicing volume. Overall production volume for the 12 months that ended on June 30 was $53.7 billion, according to the S-1.

AmeriHome produced about $27 billion in volume through its correspondent channel over the first half of the year – about 8% of the market, the company said in its S-1. That’s been the key in allowing AmeriHome to scoop up purchase loans. Last year, nearly 63% of AmeriHome’s production volume was in purchase loans through its correspondent channel.

What subservicing looks like during a pandemic

As the world continues to navigate the impacts of COVID-19, HousingWire sat down with TMS to learn more about their customer service philosophy and why proactively educating borrowers on forbearance is essential.

Presented by: TMS

Though correspondent is the bedrock of AmeriHome’s business, it’s direct-to-consumer channel is also growing quickly. Per the S-1, it’s up to $2 billion in originations through the D-to-C channel.

The majority of consumer-direct origination activity is refinancing its existing customers, AmeriHome said in its S-1. “By proactively offering attractive refinancing terms to existing customers, we can minimize MSR portfolio attrition and build customer loyalty by improving their mortgage experience,” the company said.

And the servicing portfolio – where it earns fees between 25 and 56.5 basis points – as of June 30 was $87.9 billion. AmeriHome uses the bank Cenlar to subservice nearly all of its loans.

Adjusted after-tax income in 2019 was $144 million, up from $89.3 million in 2018.

Other IMBs and servicers to file paperwork to go public in recent weeks include Caliber Home LoansFinance of America and United Wholesale Mortgage.

Leave a comment

Most Popular Articles

FHFA extends forbearance period to 18 months

In an effort to protect homeowners, the FHFA extended forbearance coverage to 18 months and pushed the eviction and foreclosure moratorium to June 30.

Feb 25, 2021 By

Latest Articles

How lenders can prepare for growing fraud threats

HousingWire recently spoke with Jeffrey Morelli, general manager at Truework, about what lenders can do to prepare for and overcome the growing threat of fraud and data inaccuracy.

Feb 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please