Monday, 22 December 2014
Last updated 18 hours 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.