BSI to purchase mortgage servicing rights following capital raise

Existing-home sales fall to three-year low, miss estimates U.S. Existing Home Sales Fall to Three-Year Low, Miss Estimates – Sales of previously owned U.S. homes fell to the slowest pace in more than three years, falling short of estimates and indicating that the housing market remained in a slowdown as the year ended. Contract closings decreased 6.4 percent from the prior month to an annual rate of 4.Inventory keeps contracting as higher rates deter sellers: Redfin A dwindling number of homes for sale pushed U.S. home prices higher. inventory. The number of homes listed last month was 6.9 percent lower than in October 2015. “While the October market rewarded.

KEN ADLER – Managing Director, Mortgage Finance Mr. Adler has over 25 years of experience in the mortgage industry. Prior to joining SPM in 2014, Mr. Adler was a Managing Director at Citibank (2009-2014) with responsibility for residential mortgage servicing rights, origination pipeline management and asset disposition initiatives at Citimortgage.

MIAC Capital Markets, LLC. ACCOUNTING AND REPORTING. The accounting and reporting for mortgage servicing assets as set forth in FASB ASC 860-50 FASB ASC paragraph 860-50-25-1 requires that an entity recognize a servicing asset or servicing liability each time it enters into a servicing obligation which may be qualified as follows:

Home prices in 20 U.S. cities cool with smallest gain since 2012 U.S. home prices are still rising, but at the slowest pace since October of 2012, according to the S&P CoreLogic Case-Shiller national home price index (not seasonally adjusted) for February.

Comptroller’s Handbook 1 Mortgage Banking Introduction The Office of the Comptroller of the Currency’s (OCC) Comptroller’s Handbook booklet, "Mortgage Banking," provides guidance for bank examiners and bankers on various mortgage banking activities, such as the purchase or sale of mortgages in the secondary mortgage market.

Mortgage servicing rights are one of the few financial assets that increase in value as rates rise. Most mortgage REITs are exposed to changes in interest rates, and are usually long-duration.

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Analyzing The Preferred Shares For A Handful Of mREITs – The mREITs I am currently including for preferred shares are Annaly Capital Management. because the mREIT is holding MSRs (Mortgage Servicing Rights). If you want to know more about the MSRs, I.

In contrast, under current rules mortgage servicing rights are included in capital up to 90% of fair value or book value, whichever is lower. The second reason is the consolidation of the banking.

A firm, for example, that origi- nates a mortgage, sells it to a third party, and retains the servicing would report an MSA on its balance sheet, if certain conditions are met.3 That MSA therefore would be subject to a capital requirement.

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This capability is funded by a capital raise in excess of $140 million, which was nearly three times the amount targeted. BSI Financial will source, perform due diligence, and service MSR assets.

BSI Financial Services received a capital infusion for the subservicer to acquire mortgage servicing rights for its own account in order to offer its clients more liquidity for this asset. The capital raise of $140 million from two undisclosed institutional investors was nearly three times the amount it targeted.