Mortgage Grapevine: A New Way to Invest in MSRs; Ocwen Plans Significant Cutbacks; Applications Improve…
May 9, 2019
Industry veteran Andrew Weber has launched Marlin Mortgage Capital to assist investors that want to own mortgage servicing rights but don’t want to hassle with the management chores. Weber is close to signing up two different investors, one that wants to put $250 million of capital to work, another who might spend $400 million. “We can underwrite the [MSR] asset, but they [the investor] can work alongside us if they want.” Weber is talking to Flagstar and Mr. Cooper about buying some of their MSR assets with those two companies remaining as the subservicer. Stay tuned…