MSR

Castle & Cooke Mortgage launched a consumer-direct unit that is focused on capturing repeat business from its existing servicing customers.

Consolidation among large independent mortgage bankers is likely as several lack the financial wherewithal to deal with the changing environment, Moody's said.

Ocwen Financial is a step closer to the day when it can resume purchases of mortgage servicing rights.

Servicers are able to borrow more against their Ginnie Mae mortgage servicing rights as financing providers become more comfortable with the collateral.

Rising interest rates have slowed a recent run of unexpectedly high prepayments of government-insured mortgages, making servicing rights for loans held in Ginnie Mae securities more attractive to investors.

Caliber will also buy about $36 million of mortgage servicing rights in a deal that is expected to close at the end of March.