David Lykken, managing partner of Transformational Mortgage Solutions, said he welcomes PIMCO’s investment, believing that it’s a huge positive for the industry.

The congressman said the decision to sell thousands of loans at a time at sharp discounts to the highest bidder “continues to enrich Wall Street at the expense of neighborhoods and community-based organizations.”

Rushmore is licensed in all 50 states, Washington DC, and Puerto Rico. It has offices in Irvine, Dallas and San Juan, PR, where it services roughly $1 billion in assets...

Standard & Poor’s has removed Ocwen Financial form its “CreditWatch” list.

Bond investing giant PIMCO has quietly purchased First Guaranty Mortgage Corp., Frederick, MD, for roughly $50 million, gaining a toehold into an industry it has been carefully eyeing for well over two years now. The acquisition – confirmed to Inside Mortgage Finance by several sources – comes roughly three months after the company pulled out of talks with RoundPoint Mortgage, the nation’s 24th largest servicer. PIMCO – formally known as Pacific Investment Management Co. – has tried...

For many investors it has boiled down to this: They’ve had enough and they want out.

All of the servicing rights being auctioned off are currently being subserviced by Cenlar.

One frequent participant on the buy-side of MSR deals called the current price structure “fair” and below the “overheated” level that buyers witnessed a year ago.

Early this year, PIMCO was in talks to buy RoundPoint Mortgage, a top 25-ranked servicer, but the transaction fell apart.

The Fannie/Freddie loans are dominated by Florida mortgages at 32 percent of the flow.