Last week rumors were circulating in the industry that a top-ranked nonbank was about to be sold, but the name being floated was not Mr. Cooper.

One servicing advisor said he has “deals in progress,” just not as many as this time last year.

A large money-center bank recently agreed to pay north of six-times the servicing fee for a low-coupon MSR package.

Rithm has once again used its servicing rights in a capital markets deal. Why haven’t other MSR owners followed its lead?

Warehouse commitment levels are on the rise, a sign — perhaps — of better days ahead. Meanwhile, JPMorgan continues to dominate the space. (Includes data table.)

One bidder recently agreed to pay north of 6.25 times the servicing fee for a high dollar volume of agency MSR. Sound crazy? Maybe, but servicing prices are at a 25-year high for low-coupon product.

Cenlar was the runner-up with $742.0 billion of contracts at the end of 2024.

Not to be forgotten, Canada holds $156.0 billion of agency product.

It’s unclear, though, how this stratagem would simplify the “recap and release” of the enterprises.

Rithm on Monday closed an $878 million debt sale, this one collateralized solely by MSRs.