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Bulk Market Is Heating Up.
Washington -- Mortgage rates have been firming up the past few months and that means the market for "bulk" servicing rights is finally taking off.
As Mortgage Servicing News went to press, at least one large transaction had been announced and several others were being worked on.
Commercial Federal Corp., Omaha, agreed to sell $10 billion in servicing rights (and its correspondent lending division) to Wells Fargo Bank for an undisclosed sum.
Meanwhile, MIAC, New York, was on the verge of coming to market with a $1 billion package of multifamily servicing rights. The package represents Fannie Mae DUS servicing.
Also, Interactive Mortgage Advisors, Denver, Countrywide Servicing Exchange of California, and other brokerage firms were working on deals.
The Commercial Federal sale (the rights belonged to its affiliate, Commercial Federal Mortgage) was brokered by Lehman Brothers.
A spokesman for the bank told MSN that despite the sale of receivables, the bank is keeping its servicing platform.
- Commercial Federal Sells Servicing, TPO.
- News wire article from: Mortgage Line April 20, 2005 700+ words
OMAHA, NE -- Commercial Federal Corp. here has agreed to sell $10 billion in servicing...can apply for new jobs at the company. At year-end, Commercial Federal Mortgage Corp. serviced $13.4 billion in loans, ranking 43rd...
- American Federal Mortgage Deploys Del Mar DataTrac's DocumentTrac.
- Press release article from: Business Wire May 1, 2008 700+ words
...Flanders, N.J.-based American Federal Mortgage Corp. has implemented the company...DocumentTrac platform is enabling American Federal Mortgage to join the ranks of paperless lenders...of the DataTrac platform, American Federal Mortgage selected DocumentTrac to help increase...
- Aimbridge Home Loans Aligns With United Federal Mortgage; Lender Now Offers...
- Press release article from: Business Wire October 7, 2005 700+ words
...with Rockville, Md.-based United Federal Mortgage (UFM). Per the agreement, Aimbridge...of credit union affinity for United Federal Mortgage. "The name will change, but the...people, both Aimbridge and United Federal Mortgage have a clear competitive advantage...
- Federal Mortgage Bank: Workers Protest Redeployment.
- News wire article from: Asia Africa Intelligence Wire December 9, 2003 700+ words
...Akwaya And Juliana Taiwo Staff of the Federal Mortgage Bank (FMBN) are at daggers drawn...Committee on the restructuring of Federal mortgage and housing institutions over the...on-going re-organisation of the Federal Mortgage Bank of Nigeria (FMBN) and the liquidation...
- Aimbridge Home Loans Teams Up with United Federal Mortgage.
- Magazine article from: National Mortgage News October 17, 2005 700+ words
...with Rockville, Md.-based United Federal Mortgage. Under the agreement, Aimbridge...of credit union affinity for United Federal Mortgage, in a press release. "The name...people, both Aimbridge and United Federal Mortgage have a clear competitive advantage...
- Aimbridge Enters Partnership With United Federal.(Aimbridge Home Loans, United...
- Magazine article from: Origination News November 1, 2005 700+ words
...with Rockville, Md.-based United Federal Mortgage. Under the agreement, Aimbridge...of credit union affinity for United Federal Mortgage in a press release. "The name will...people, both Aimbridge and United Federal Mortgage have a clear competitive advantage...
- American Capital Federal Mortgage Trust. (Dividends)
- Magazine article from: Houston Business Journal December 24, 1990 700+ words
American Capital Federal Mortgage Trust American Capital Federal Mortgage Trust has reported a monthly dividend of 9.65 cents per share from net investment income to be declared over the 20 business days in December. The reinvestment price will...
- American Capital Federal Mortgage Trust. (For the Record - Dividends)
- Magazine article from: Houston Business Journal February 18, 1991 700+ words
American Capital Federal Mortgage Trust American Capital Federal Mortgage Trust declared a monthly dividend of 9.65 cents per share from net investment income to be declared on a daily basis over the 19 business days in February. The reinvestment...
- Washington Federal Mortgage Association. (Earnings)
- Magazine article from: Washington Business Journal August 5, 1991 700+ words
Washington Federal Mortgage Association Washington Federal Mortgage Association, Washington, will pay a dividend of 26 cents a share on Aug. 25 to shareholders of record on July 31.
- Russia: Russia's federal mortgage agency receives US$ 2 bln.
- News wire article from: Thai Press Reports December 29, 2008 700+ words
Section: General News - Russia's federal mortgage agency said on Thursday (December 25, 2008) it had...will be sent to continue the efforts by the Russian federal mortgage agency to refinance residential mortgage loans and the...
Source: HighBeam Research, Bulk Market Is Heating Up.