Nonbank Venture Funds Want into Juicy MSR Market But Unlikely to Evade CFPB Scrutiny
May 31, 2012
Nonbank venture capital funds that see opportunity in the expected pullback of banks from the $10 trillion mortgage servicing rights sector likely will not dodge the growing regulatory compliance burden that has become one motivation for banks to pull out of the business. Nationstar Mortgage Holdings, a unit of Fortress Investment Group that was taken public in March, is on pace to become the largest nonbank servicer in the industry if it succeeds in buying the mortgage servicing portfolio of GMAC Mortgage and Residential Capital. Nationstar CEO Jay Bray recently went on record saying he expects...
It will be the 11th issuance of its type by loanDepot.
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