Revisiting our 2018 predictions for the mortgage industry — How did we do?

Mortgage

Outcome: Right

There were a number of merger and acquisition deals announced or closed during 2018. New Residential’s purchase of Shellpoint Partners, announced in 2017, was consummated, but a second company with ties to Lewis Ranieri, Selene Finance, was acquired by Pretium Partners. Citizens Bank acquired $41 billion servicer Franklin American Mortgage.

Nationstar was acquired in August by a remnant of former mortgage powerhouse Washington Mutual, with the new parent company known as Mr. Cooper Group. In November, Mr. Cooper agreed to buy Pacific Union Financial in a deal that would increase its $514 billion servicing portfolio by $25 billion.

But the most noteworthy servicing-related MA was Ocwen’s purchase of PHH, which was driven by the former’s need to switch platforms in order to comply with its regulatory settlements.

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