The sale of mortgage banking franchises and asset-related acquisitions are gaining traction as the year draws to a close, but dealmakers aren’t expecting any blockbuster moves before yearend. According to interviews conducted by Inside Mortgage Finance with investment banking advi-sors, many lenders remain profitable and are enjoying a 2017 that turned out to be better than expected in terms of origination volume.
Meanwhile, there’s already speculation that Capital One – known for its prowess in credit cards – might eventually re-enter the mortgage business in one way or another.
Today, just three depositories remain among the top 25 HECM lenders: First Bank (ranked 16th at mid-year), The Federal Savings Bank (19th) and Quontic Bank, FSB (21st).
Interestingly, Nationstar, Ocwen and Walter each have embarked on a course of selling their owned mortgage-servicing rights while staying on as a subservicer…
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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