Also, Morgan Stanley recently increased its stake in Arch Capital Group to 6.3 percent. Arch owns CMG Mortgage Insurance, which is being renamed Arch Mortgage Insurance Company.
Orange Capital is a private equity firm that has been gobbling up stakes in PHH Corp. over the past year. A few months back Inside Mortgage Finance first reported that PHH might be a takeover target.
According to interviews conducted by Inside Mortgage Finance, Lau’s company, Pingora Loan Servicing, has amassed roughly $10 billion in MSRs in less than nine months.
One executive familiar with the practice of signing bonuses noted that typically the money is paid out over 12 months, but if the LO does not repeat their past performance the bonus can terminate in a given quarter.
Mortgage executives are praying that even though eminent domain plans have been talked about and brought to a vote in a handful of cities, that it never gets used.
It will be the 11th issuance of its type by loanDepot.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.