Citadel, which raised $200 million earlier in the year, has funded $18 million so far this year, but 40 percent of that has come in October. Eventually, it hopes to securitize its production.
At press time, there were reports circulating that one mid-sized nonbank planning to enter the correspondent acquisition market had pulled the plug and laid off staff. The firm is expected to talk to IMFnews Thursday morning.
A year ago, mortgage servicing brokers were seeing five or fewer bidders on bulk offerings. Today, 10 or more bidders show up, many of which are nonbanks or have owners that are hedge funds or private-equity firms.
Is Ed DeMarco unimpressed with Fannie and Freddie's return to profitability? “…we should keep the recent reports of positive net income in perspective,” he told the audience of the Bipartisan Policy Center this week. “Much of it has been related to one-time adjustments..."
Roughly 4,100 people have registered to attend the annual convention of the Mortgage Bankers Association, which launches Sunday night in Power City USA.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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