Several mortgage banking firms are being acquired, including two that are being picked up by banks. Two smaller Louisiana firms are merging, while a significant player is being purchased by another.
Shellpoint Partners LLC has agreed to be acquired by New Residential Investment Corp. for $190 million, a Nov. 29 statement said.
The acquisition of New York-based Shellpoint is expected to be completed in the first-half of next year. The deal is subject to settlements on mortgage servicing rights on approximately $8 billion in government-sponsored enterprise loans.
Source: Mortgage Daily