A mid-sized California-based nonbank has been toying with the idea of selling a 20% stake in itself to outside investors, according to industry officials close to the situation. “They were looking for a capital infusion, even though they didn’t really need the money,” said one source. National Mortgage News is still trying to confirm the name of the shop, but we’re told the moral of the story is this: strongly positioned mortgage banking firms will not give themselves (or part of themselves) away dirt cheap. It may be a buyer’s market for lenders – but not for all lenders…
Processing Content
