Michael Lau, who helped put Phoenix Capital on the map in terms of MSR sales, plans to leave the servicing advisory firm, according to colleagues who’ve been briefed on the matter.
Late Wednesday night both Lau and Brett Schaffer, president of Phoenix Capital, did not return telephone calls. Lau, a 25-year veteran of mortgage banking, holds the title of executive vice president of the Denver-based firm.
One source said he may be heading to “the world” of hedge funds, though that could not be confirmed at press time.
As reported by National Mortgage News, Phoenix has been Bank of America’s advisor on several bulk servicing sales that have occurred over the past 18 months. Recently,
At Phoenix Lau has been in charge off overseeing new business development at the firm and managing merger and acquisitions, including the sale of bulk and flow servicing transactions.
Servicing advisors—who spoke under the condition their names not be published—had high praise for Lau, especially in regard to the firm getting B of A as a client.
The megabank has offered for sale close to $100 billion of MSRs over the past year-and-a-half, according to reporting by NMN.
Prior to joining Phoenix, Lau was executive vice president of First Colorado Mortgage Corp.
