On average, the California-based GEMBC facilitates roughly $800 million of commercial mortgages a year.

With rates creeping up, more MSR packages should hit the auction block…

Since Genworth is a counter-party to Fannie Mae and Freddie Mac, the GSEs must approve the change of control as well.

According to investment bankers, there continues to be plenty of talk about mergers and acquisitions in the mortgage industry, but deals just aren’t getting done for the simple reason that the primary targets – midsized nonbanks – are posting strong profits and want top dollar for their franchises. “We’re still having conversations with potential buyers,” said Chuck Klein, managing partner with Mortgage Banking Solutions, Austin, TX. “But there continues to be a wide gap between the bid and the asking price.” Klein also noted...

Back in August, Incenter Mortgage Advisors auctioned off one of the largest bulk packages of Ginnie Mae servicing rights in quite some time: An $8.87 billion pool of receivables…

Based on the seller’s past performance, California, Texas and Florida will account for 30 percent of the receivables. Bids are due Oct. 18.

Is Caliber Home Loans still looking at some of PHH’s mortgage assets?

One mortgage insurance official who used Promontory Financial Group in the past described the firm’s work as “excellent,” but noted: “They don’t come cheap.”

Based on past production trends of the seller, 52 percent of the loans originated will come through the correspondent channel.

The MSR package has a heavy West Coast concentration, MIAC said.