Wednesday morning we were greeted with the news that an affiliate of Newcastle Investment Corp. – a publicly traded REIT – has agreed to pay almost $44 million to Nationstar Mortgage in exchange for receiving 65% of the interest payments on a $9.9 billion pool of MSRs. (
The deal bolsters Zions' ability to serve multifamily customers and creates a natural extension of its affordable housing lending program, management said.
Mortgage servicers would like to shed responsibility for second liens but they may be exchanging one set of workflows for others.
The move builds on MeridianLink's lending lifecycle strategy, enabling institutions to engage with borrowers before, during and after the lending decision.
The market is bifurcated into those looking for affordable housing outside of metropolitan cores and high-end buyers prioritizing lifestyle. Still, both groups are looking south.
The agency delayed an offering of occupied units until September to ensure compliance with President Trump's executive order made earlier this year.
The merger was supposed to close on Aug. 3, but an approval was not received in time, although regulatory certainty was a selling point of the CrossCountry bid.
