As I noted in a recent column, the residential servicing business is about to get a lot more interesting — especially in the wake of Basel III deciding that mortgage servicing rights can only count for 10% of capital. (Regulators are allowing for a multi-year phase-in period.) Anyway, rumors are starting to spread that a large "outside" player is eyeing a major splash into MSRs with a goal of eventually amassing $500 billion in servicing rights. We shall see…
The top bullet point in Two Harbors' rejection notice is the Mizuho credit facility does not constitute committed financing for UWM to pay for the deal.
The combination adds to a wave of broader merger and acquisition activity that includes an ongoing bidding war over RoundPoint Mortgage owner Two Harbors
The litigants, with some of the industry's deepest pockets, may be filing the rare cases to flag and potentially punish bad brokers, one expert said.
Market watchers think Jerome Powell will maintain a low-key presence on the Fed board as he awaits the release of an inspector general report examining cost overruns at the central bank's headquarters.
Mordor Intelligence expects the manufactured homes market size to expand from $28.5 billion in 2025 to $30.5 billion this year, its latest report found.
Fannie Mae and Freddie Mac's support for the market lessened the impact, as could bank capital reform, and the company's normalized results outperformed.
