Specialized Loan Servicing Computershare – Business Investment Trust Rhythm Capital Corp. Mortgage Services Inc. A group of companies entered into an agreement worth $720 million. The deal includes the acquisition of Specialized Loan Servicing LLC.
The deal is the second major acquisition announced in three months by New York-based Rithm, which operates NewRez, Caliber and others. In July, the company Sculptor Capital Management Inc. The agreement to buy the company for $ 639 million has caused a dispute among the shareholders in the company’s management.
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Rithm’s deal with Computershare adds to the company’s mortgage-backed securities (MSR) portfolio of approximately $136 billion in unsecured bonds (UPB). It includes $85 billion in third-party servicing and portfolios of special loan servicing MSRs.
Michael Nirenberg, president, CEO and president of Rithm Capital said “Our track record of acquisitions in the mortgage space continues to provide value not only to our shareholders, but also to the millions of clients we serve,” said Michael Nirenberg, chairman, CEO and president of Rithm Capital.
After the agreement is closed, the specialized loan service and operation will be in Newrez, the 8th largest US mortgage lender in the first six months of 2023, with $17 billion in history loans, perInside Mortgage Financedata.
Newrez is also the fifth largest mortgage lender with an MSR record of $540 billion in the second quarter. According to IMF, Computershare Loan Services is No. 36, with a total of $53 billion.
Rithm Computershare intends to use a combination of existing cash, balance sheet and additional MSR funds to close the transaction.
Australian Owned Specialized Loan Servicing Says,
Rithm had $1.8 billion in total cash and cash equivalents to support the acquisition at the end of the second quarter. For the April through June period, Rhythm reported GAAP net income of $357.4 million, up from $68.9 million in the previous quarter.
So far this year, the company has also invested $145 million to buy $1.4 billion in consumer loans from Goldman Sachs. 11:36 AM – Wed 20, 2018 EDT 1 min read
Computershare Loan Services has agreed to acquire the mortgage and secondary business of LenderLive Holdings to expand its services across the lending cycle.
Terms of the transaction were not disclosed. The sale will close in the fourth quarter.
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“The LenderLive Network team has a strong customer base and their excellent products and people will be the right fit for us as we continue to build the most innovative lending service,” said Nick Oldfield, CEO of Computershare. Loan Services, in a press release. two companies.
“We believe that LenderLive Network is a natural fit with Computershare’s recent loan business growth strategy, and the combined companies will have greater scale and business opportunities, ” said John Surface, president and chief operating officer of LenderLive Holdings, in a press release. .
The decision to sell the LenderLive network “is part of our long-term business plan to invest in and develop our company’s services and business technology, while seeking additional resources long or partner to our success and secondary business,” said LenderLive Holdings. CEO. Rob Clements is in production.
“Going forward, LenderLive Holdings will continue to provide a variety of technology services through our LenderLive Services division and grow through strategic acquisitions such as the recently closed Require Holdings business. print,” said Clements.
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