The initial offering size was $378 million, but Rithm said the deal was increased due to "demand for the securitization's unique structure and underlying asset portfolio."
Rithm Capital hasn’t released many details on its new security backed by MSR, but its CEO Michael Nierenberg calls the transaction “novel” and market participants expect to see more such issuance.
Increasingly, nonbanks have a large chunk of their assets tied up in mortgage servicing rights — some more than others. Is that a problem? (Includes data table.)
A 35-year veteran of residential finance — including more than a decade at Wells Fargo — Ken Logan is leading Huntington’s foray into warehouse finance. Also on the menu: loans backed by servicing rights.
MBS trading volume had its best month of the year in October. Might higher tariffs promised by a new White House force rates higher, damaging the mortgage market?
Ginnie Mae wants to give a capital break to servicers that hedge their positions and do it well. But the government guarantor might make some changes to the language first published last week.
In 2020 when rates were hitting rock bottom, nonbanks — public and private alike — lined up to issue debt in the form of unsecured notes. But 2025 is just around the corner and those instruments need to be refinanced or paid off.