“Cheap is the goal now,” said Chuck Klein, a managing partner at Mortgage Banking Solutions, Austin, TX. “I’m seeing many mortgage-banking firms that want to buy, and they’re looking at either smaller firms or branches.”
Citadel is the most active non-agency, non-prime lender in the U.S. In an interview with IMFnews, company founder and CEO Dan Perl said, “We’ll do $11 million to $12 million, at least" for the month of March.
According to exclusive figures compiled by Inside Mortgage Finance, once Fifth Third departs, there will be just two depositories in the top 10: Flagstar and U.S. Bank.
According to exclusive survey figures compiled by Inside Mortgage Finance, loan brokers accounted for 9.8 percent of all originations in the fourth quarter, a slight improvement from the 9.6 percent market share reading in the third quarter.
Among other things, the eligibility standards will establish new risk-to-capital ratios for the nation’s seven active MI firms and could dictate how much in the way of dividends an MI can upstream to its parent company.
In a new report, Compass Point Research & Trading asks: “Are the special servicers bad actors?” CPR&T concludes the answer is no, but notes “there is some merit” to concerns about the rapid portfolio growth at certain firms…
Another bank bites the dust in wholesale: Fifth Third Bank, which ranks second among depositories in the channel, according to Inside Mortgage Finance.
A few weeks back, Rep. Mark Takano, D-CA, called for Congressional hearings on the single-family rental MBS market, singling out investments made by the Blackstone Group.
Company executive Doug Reilly, commenting on the mortgage M&A market, had this to say: “It seems we need to take 20 girls to the alter just to marry one”…