New Residential closes purchase of PHH’s Fannie MSRs

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The purchase will make Nationstar the nation’s seventh largest servicer overall with receivables of close to $170 billion, according to figures compiled by ASR sister publciation National Mortgage News and the Quarterly Data Report. Last month NMN broke the news that Nationstar was likely to buy the ALS MSRs. The sale was announced Tuesday morning.

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Moves closer to complete sale of MSR portfolio. In the filing, PHH said that the closing of this sale constituted the initial sale of MSRs under its agreement with New Residential. When PHH initially announced the deal in December, it said it planned to sell the servicing rights on 480,000 mortgages with a total unpaid principal balance of $72 billion to New Residential.

New Residential closes purchase of PHH’s Fannie MSRs 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.

New Residential agreed to pay PHH, based in Mount Laurel, N.J., a total of $912 million; $612 million of that is for the servicing rights and $300 million is for the rights to receive money that PHH has advanced to holders of bonds backed by delinquent mortgages.

New Residential enters into APA to acquire forward assets of Ditech Financial New Residential. New Residential Investment announced that it has entered into a "stalking horse" Asset Purchase Agreement, or APA, with Ditech Holding and Ditech Financial to purchase substantially all of the forward assets of Ditech Financial.

Overuse of GSE tools in the private-label market adds risk: Moody’s Former Fannie exec to lead Flagstar lending unit Being too dependent on the automated underwriting tools created by the government-sponsored enterprises to originate loans underlying private-label mortgage-backed securitizations could negatively affect their credit quality, a report from Moody’s said. The dominant role that Fannie Mae and Freddie Mac have in the mortgage market gives them resources that can provide benefits to the private.

Ellie Goulding - Your Song New Residential to buy mortgage platform Shellpoint. Consummation of the Shellpoint acquisition is expected to occur in two stages: 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.

Closing times match a low last seen pre-TRID Closing Date = Date of Consummation. Thi s example assumes the borrower "received" the disclosure the same day it was issued and the closing date is then 3 day later. Disbursement Date = Date loan funds are paid. Should match Summaries of Transactions.

Additional First quarter 2019 Business Highlights — We closed MSR acquisitions with $5 billion of unpaid principal balance (UPB) and we have been awarded $26 billion in UPB of MSRs that that we.

New Residential Investment (NYSE:NRZ) enters a "stalking horse" asset purchase agreement with Ditech Holding to buy certain assets in Ditech’s Chapter 11 bankruptcy.

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