New Residential closes purchase of PHH’s Fannie MSRs

NEW YORK–(BUSINESS WIRE)–Two Harbors Investment Corp. (NYSE: TWO) today announced that its wholly owned subsidiary, Matrix Financial Services Corporation ("Matrix"), has entered into an agreement to acquire a bulk pool of mortgage servicing rights ("MSRs") from Flagstar Bank, FSB ("Flagstar"), a subsidiary of Flagstar Bancorp, Inc. (NYSE: FBC).

New Residential Investment Corp. has agreed to acquire New York City-based Shellpoint Partners LLC, a mortgage platform. The price of the transaction was about $190 million. Houlihan Lokey Capital.

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I. Settlements on Approximately $8 Billion UPB of Fannie Mae & Freddie Mac Mortgage Servicing Rights ("MSRs") – As part of the acquisition, New Residential will first settle on approximately $8 billion UPB of Fannie Mae and Freddie Mac MSRs from Shellpoint. Between such settlements and the closing of the corporate acquisition described.

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I. Settlements on Approximately $8 Billion UPB of Fannie Mae & Freddie Mac Mortgage Servicing Rights (‘MSRs’) – As part of the acquisition, New Residential will first settle on approximately $8.

Tom Akin, Frank Filipps and myself complete the new Board. to purchase. Steve I’d also point out one other item, in terms of the backup in rates, if you look at the size of our MSR portfolio, we.

The Women Of Brewster Place PHH to Sell Remaining MSRs for $912M | American Banker – PHH is selling its remaining residential mortgage servicing portfolio to the real estate investment trust New Residential.. PHH to Sell Remaining MSRs for $912M BB&T and SunTrust vow to minimize employee, client defections. The deal is expected to close in the second quarter of 2017 and.

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In the wake of rising interest rates, many mREITs have decided to purchase large amounts of mortgage servicing rights (MSRs) because of their negative duration. While this is true, investors should know and understand the risks with MSRs. One of the main players of MSRs is New Residential Investment Trust .

We also expect the final purchase price of the MSR and advances to be adjusted prior to close, as the UPB on the MSR and related. And will that be recaptured on the $50 billion of Fannie MSRs? Or.

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 · Investments Lending Servicing PHH selling off entire mortgage servicing rights portfolio New Residential buying up all PHH’s MSRs, PHH will subservice for 3 years