Tuesday, 2 September 2014
Last updated 30 min ago
Sep 18 2013 | 11:02am ET
As banks pull back from the mortgage market, hedge and private-equity funds are piling in.
Fortress Investment Group and the Blackstone Group's GSO Capital Partners have both launched new efforts to buy mortgage servicing rights. The firms have been drawn by rising interest rates, a decline in new mortgages and the desire of banks to shed risk from their balance sheets.
At least $1 trillion worth of MSRs will change hands over the new two years, Nationstar Mortgage Holdings CEO Jay Bray told Bloomberg News. Fortress is the majority owner of Nationstar.
EFJ Capital, Pine River Capital Management and Seneca Mortgage Investments are also buying up MSRs. Fortress' MSR Opportunities Fund II closed in July with $1.1 billion.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...