Varde Partners completed the issuance of $290 million in notes secured primarily by real estate loans and assets.
In June the unpaid principal balance of Freddie Mac's total mortgage portfolio declined 2.6% from a year earlier, to $1.89 trillion, as total purchases shrank by almost half.
Independent Bank Corp. reported lower second-quarter earnings as income related to mortgages fell dramatically.
Acquiring the technology vendor would help Altisource build a marketplace for ancillary mortgage services and reduce the company's reliance on its former parent and top client, Ocwen.
Since PHH is now a pure-play mortgage company, it made sense to have just one executive running the business, industry experts said.
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