Servicing

New Residential Investment Corp. has priced the public offering of more than 49.2 million shares of its stock that it plans to use to pay for its purchase of mortgage servicing rights from CitiMortgage.

Citigroup's decision to exit mortgage servicing by the end of 2018 is part of a long-term strategy to increase returns and sharpen the bank's focus on its core retail customers.

CIT Group's exit from its commercial air and reverse-mortgage-servicing businesses cost it heavily in the fourth quarter.

Citigroup's plans to sell a $97 billion mortgage servicing portfolio and subservice its remaining accounts highlights the growing prevalence of nondepository servicers and raises questions about how much capacity exists for these institutions to absorb more large deals.

The Federal Emergency Management Agency has tapped Torrent Technologies as a direct service provider for the National Flood Insurance Program.

New Residential Investment Corp. is planning a public offering of more than 49.2 million shares of its stock to pay for its purchase of mortgage servicing rights from CitiMortgage.

Citigroup plans to exit the mortgage-servicing business by the end of 2018 to focus on making new loans.

Mortgage industry hiring and new job appointments for the week ending Jan. 27.

Nearly a third of the loans in the nonagency space will likely see prepayments cut in half if refinancing incentives disappear due to higher interest rates, according Morningstar Credit Ratings.

Invitation Homes, the real estate investment trust controlled by private equity firm the Blackstone Group, has found a new source of financing for its portfolio of single-family rental homes: Fannie Mae.