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AMCORE Sells MSR Portfolio.(mortgage servicing rights)(AMCORE Financial )(Brief article)
ROCKFORD, IL -- AMCORE Financial here is in the process of selling its originated mortgage servicing rights in a move the company says will better position it to grow its mortgage origination business and stabilize mortgage earnings through future economic and rate cycles.
AMCORE said it has entered into a "strategic agreement" with a national mortgage services firm to provide private-label loan processing and servicing support. As part of the arrangement, AMCORE is also selling mortgage servicing rights. The transaction is subject to due diligence and customer closing conditions.
AMCORE said it expects to record a gain in the first quarter of 2007 related to the servicing sale, but the gain will be "partially offset" by transaction costs.
AMCORE said that as a result of the decision to limit its mortgage servicing rights exposure, it will be able ...
- CLARIFICATION of American Home Mortgage Servicing, Inc. Acquires Servicing...
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...American Home Mortgage Servicing, Inc. Acquires Servicing Rights for 185...the Master Servicing Rights pursuant...serviced. Mortgage servicing consists...AMERICAN HOME MORTGAGE SERVICING, INC. ACQUIRES SERVICING RIGHTS FOR 185...
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IRVING, Texas -- American Home Mortgage Servicing, Inc. ("AHMSI") has signed an agreement with Citi Residential Lending to acquire a servicing rights portfolio on 185,000 loans. AHMSI will board the loans in early February. Customers...
- $363B of MSRs May Change Hands.(Mortgage servicing rights)(ABN AMRO Mortgage...
- Magazine article from: Mortgage Servicing News Muolo, Paul December 1, 2006 700+ words
...environment. According to calculations made by Mortgage Servicing News, some $363 billion in servicing rights could change hands in the next six months...compiled by the Quarterly Data Report, and Mortgage Servicing News. If H&RB cannot sell OOMC...
- Accounting for mortgage servicing rights.
- Magazine article from: The National Public Accountant Reynolds, Brian M. September 1, 1995 700+ words
...122, Accounting for Mortgage Servicing Rights, amending SFAS No. 65...accounting treatment of mortgage servicing rights. The MBAA wanted the...accounting distinction between mortgage servicing rights chat are acquired through...
- Servicing rights: still in demand. (mortgage servicing)
- Magazine article from: US Banker Muolo, Paul January 1, 1996 700+ words
...the transfer of servicing rights to loans purchased...lucrative field of mortgage servicing may be an indication...market for home servicing rights is leveling off...balance sheets the servicing rights to loans they originate...
- Banks weigh servicing strategies: trading mortgage servicing rights may have...
- Magazine article from: ABA Banking Journal Cocheo, Steve October 1, 1993 700+ words
...buying and selling of mortgage servicing rights was a relatively small...buying and selling of mortgage servicing rights, once looked at askance...does not generally sell mortgage servicing rights, according to Thomas...
- MICHIGAN NATIONAL CORP. ANNOUNCES SALE OF MORTGAGE SERVICING RIGHTS PORTFOLIO...
- Press release article from: PR Newswire August 11, 1994 700+ words
...Corporation ("IOMC"), agreed to sell certain of its assets, including its $8.6 billion mortgage servicing rights portfolio, its mortgage servicing operation and non-Michigan loan origination business to Norwest Mortgage, Inc. ("Norwest...
- MICHIGAN NATIONAL CORPORATION ANNOUNCES: OCC TERMINATES MEMORANDUM OF...
- Press release article from: PR Newswire October 13, 1994 700+ words
...Mich., has concluded the sale of certain of its assets, including its $8.6 billion mortgage servicing rights portfolio, its mortgage servicing operation and non-Michigan loan origination business to Norwest Mortgage, Inc. ("Norwest...
Source: HighBeam Research, AMCORE Sells MSR Portfolio.(mortgage servicing rights)(AMCORE...