Why might some MSR buyers pay more for recent higher-coupon portfolios than their peers? They’re confident they can recapture the customer when a refi is “in the money.”
Rice Park Capital Management signed a deal with Rosegate Mortgage to provide home financing opportunities to customers of Nexus Nova, which owns MSR on Rice Park’s behalf.
Holders of mortgage servicing rights marked down the assets at the end of September amid a decline in interest rates. Lower rates reduce the value of MSRs by incentivizing refis.
This year will yield fewer sales than the two previous years but those were aberrations. Small MSR portfolios are available, but nothing in the “mega” $10 billion range.