Servicing auction notices continue to be slow this time of year, especially when you consider that whatever comes to market won’t close until 2025. In other words, the book is closed on profits from these deals…
Still, with 1Q25 in sight, offerings continue. Phoenix Capital, for instance, is in the market with a $1.1 billion package of Freddie Mac product. Two interesting notes on the deal: Delinquencies are 1.89% and the ARM portion is 2.1%. The collateral is top heavy in Ohio, Texas and California product. Bids are due Dec. 4…
We recently heard that one private-equity buyer of mortgage servicing rights is toying with the idea of servicing its own loans instead of using a subservicing vendor. Details are presently being worked on…
Franchise-related mortgage M&A deals are few and far between these days, but on Monday morning Ready Capital and United Development Funding announced they will be merging. Both are publicly traded real estate investment trusts. Ready is a commercial mortgage lender, while UDF specializes in lending to residential developers and homebuilders.
CORRECTION: On Wednesday, in a story about warehouse lending, we incorrectly reported that Horizon Bancorp is headquartered in Michigan. The bank is headquartered in Michigan City, IN.
Homebuyers Want a Digital Lending Process
More than 90% of respondents to a recent Fannie Mae survey said they were interested in a more or even fully digital mortgage process. That was up from 63% in a 2021 survey. As borrower preference for digital communications and other services grows, lenders need to explore new opportunities in order to stay competitive. Learn about the benefits, risks and best ways to transition to digital lending in Inside Mortgage Finance’s Guide to Digital Mortgages.
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