A few years back, Pinto and AEI unveiled a new mortgage product called the Wealth Building Home Loan, which was intended to provide an affordable mortgage option for low- and middle-income borrowers.
Ocwen Financial midweek agreed to buy PHH Corp. for roughly $360 million in cash, a deal that caught the market by surprise and has analysts and advisors wondering whether two money-losing lender/servicers can make a go of it in a tough origination market.
Over the past 12 months, Stearns Lending has jettisoned its delegated correspondent lending platform and recently sold most of its $23.2 billion servicing portfolio, raising new questions about the company’s direction.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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