The spate of M&A activity in the sector suggests that more deals could be in the works, given the attractive nature of being a subservicer compared to owning the servicing strip outright…
As part of Ditech’s dissolution, the company also disclosed that its reverse lending division – Reverse Mortgage Solutions – will be sold via a stock and asset deal to Mortgage Assets Management LLC for an undisclosed sum.
Quicken Loans signed a $32.5 million agreement with the federal government to settle FHA underwriting allegations that accused the nation’s largest direct lender with fraud. As part of the deal, the privately held nonbank – the creation of Midwestern businessman Dan Gilbert – did not admit any wrongdoing and will continue to originate and service FHA loans…
Among the top three Ginnie Mae servicers at March 31, just three were banks: Wells Fargo, U.S. Bank and JPMorgan Chase. Among those ranked 11 to 20 four are depositories, including one credit union...
Firms that might fit the bill include private equity and global investment managers the likes of The Blackstone Group, KKR & Co., and PIMCO, all of which are quite familiar with the mortgage market already.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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