Items Tagged with 'MSR portfolios'

ARTICLES

  • HomeStreet to sell a piece of its mortgage servicing portfolio

    Bank will sell $5B of its single-family MSRs to Matrix Financial
    Seattle bank HomeStreet announced this week it will sell a piece of its mortgage servicing rights to Matrix Financial Services. The deal, which includes an unpaid principal balance of $4.9 billion in single-family MSRs, amounts to approximately 20% of the bank’s single-family servicing portfolio.
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  • Nationstar posts net loss of $20 million, but the news is better than it seems

    Adjusted earnings rises to $42 million
    Nationstar Mortgage, the company soon to be known as Mr. Cooper, reported Thursday that it saw its first quarterly net loss in a year, but the news is actually better than it appears. Overall, Nationstar posted a GAAP net loss of $20 million (or $0.20 per diluted share) in the second quarter, but on an adjusted basis Nationstar saw earnings of $42 million, or $0.43 per share.
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  • Caliber Home Loans acquiring Banc Home Loans

    Nonbank buying mortgage lending operation of Banc of California
    For the second time in less than a year, Caliber Home Loans, an Irving, Texas-based residential mortgage origination and servicing company, is acquiring a regional residential mortgage lender that focuses on the Western part of the country. On Wednesday, Caliber announced plans to acquire Banc Home Loans, the mortgage banking division of Banc of California.
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  • Ocwen reaches $223 million settlement with California over servicing violations

    Mortgage servicing restrictions lifted, can now acquire California MSRs
    Ocwen Financial announced late Friday that it reached a $223 million settlement with the California Department of Business Oversight, ridding itself of the restrictions that hampered its mortgage business in California for more than two years. The settlement includes a cash payment of $25 million. Ocwen is also required to provide an additional $198 million in debt forgiveness.
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  • PHH selling off entire mortgage servicing rights portfolio

    New Residential buying up all PHH's MSRs, PHH will subservice for 3 years
    Nearly two months after announcing plans to sell off its Ginnie Mae mortgage servicing rights portfolio, PHH said Wednesday that it now plans to sell its entire remaining mortgage servicing rights portfolio in a massive deal with New Residential Investment.
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  • $3.2 billion Fannie Mae, Freddie Mac MSR portfolio hits the market

    Loans are "very high quality"
    Buyers looking to get their hands on the mortgage servicing rights to some “high quality” mortgages backed by Fannie Mae and Freddie Mac are in luck, as a bulk portfolio is out for sale. According to MountainView Servicing Group, which is acting as the exclusive sale advisor, the portfolio features mortgage servicing rights to loans with $3.26 billion in unpaid principal balance.
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  • Fitch: Mortgage servicers are in for a rough year

    Low interest rate environment, rising refinances lead to shrinking portfolios
    Many of the largest bank and nonbank mortgage servicers saw their portfolios decline in the first quarter of 2016, according to a new report from Fitch Ratings. And with mortgage interest rates remaining near historic lows ever since the Brexit, things aren't likely to get much better for mortgage servicers this year.
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  • PHH sinks as low interest rates destroy mortgage servicing

    Just like Ocwen, Nationstar and Walter
    The first quarter's historically low interest rates already pulled down the performance of Nationstar Mortgage, Walter Investment and Ocwen Financial thanks to the impact of negative adjustments to the "fair value" of each company’s mortgage servicing rights portfolio, and now PHH Corporation is joining that unfortunate list as the company posted a loss in the first quarter.
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  • $301 million Fannie Mae bulk servicing portfolio hits market

    Mostly Midwest portfolio is 100% current
    Buyers looking to get their hands on some Fannie Mae servicing now have that opportunity. Interactive Mortgage Advisors announced that it is acting as the exclusive broker for a $301 million Fannie Mae bulk residential mortgage servicing rights offering.
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