There have been plenty of “asset” sales by mortgage firms this year — MSRs, for instance — but not “whole” company transactions. Is the bell about to ring?
Intercontinental Exchange’s attempt to acquire Black Knight has been attacked by regulators, shareholders and mortgage lender trade groups. In other words, it remains to be seen if the deal will get done.
Servicing sales remain brisk but there’s been a deal slowdown of late and more discriminate buyers. Meanwhile, new Ginnie Mae capital rules could rock the boat further.
For the most part, subservicing growth has been slow, thanks to booming MSR sales and some non-traditional servicing owners shifting strategies. Cenlar, though, remains the nation’s number one subservicer. (Includes data chart.)
Thanks to the spike in MSR sales this year, reviews of the underlying collateral are backing up, causing delays in portfolios being transferred to new owners. Implications?
The mortgage IPO market is in tatters these days, given higher interest rates and rapidly shrinking profits and originations. So why does fintech Better.com think it can pull off a deal?