Acquirers Eyeing $1B Originators

Large potential acquirers that were last in the market for mortgage companies in 2000 and 2001 have recently begun to show renewed interest in buying originators that produce $1 billion or more annually, according to investment banking firm Startbank, New York.Richard Easton, chairman and chief executive officer of Startbank, said this stems in part from the fact that those former buyers have just finished digesting their past acquisitions. In addition, he said sellers' offering prices have reached a point where they are more in line with what buyers are willing to pay than they have been in the past. Mr. Easton said his company represents both buyers and sellers. Startbank represents 16 companies in the latter category, each of which originates from $300 million to $1 billion per year. Startbank can be found on the Web at http://www.startbank.com.