Mortgage Banking Solutions of Woodway, Texas, says it is working on four merger-related deals with announcements on two of them coming shortly.
Chuck Klein, a company managing partner, says the deals involve both depositories and nonbank lenders. He declined to reveal the firms' identities because the transactions have not closed.
Klein, who has been working in the mergers and acquisitions field for three decades, says many mortgage firms are trying to poise themselves for both survival and future growth — with an eye toward having enough minimum capital to meet new guidelines promulgated by Fannie Mae, Freddie Mac and the Federal Housing Administration.
He says that many mortgage bankers he's talked to are changing their attitude regarding servicing released premiums and building up a portfolio of receivables. "Everyone's talking about retaining servicing these days," Klein says.
