EverBank Deal Inked; Walter Sells Servicing – Experts Weigh in on Riled Servicing Market

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Posted To: Pipeline Press

Let’s hope this is not a “here we go again” situation. RealtyTrac reports home flipping (defined as a property that is bought and resold within 1-year period) has jumped 20% in Q1 of 2016 and is up 3% year over year. This time around, 71% of house flippers paid cash for the home, however, compared to just 27% pre-crisis – comforting. EverBank stockholders and employees had some uncertainty removed from their lives when TIAA put rumors to rest by announcing the $2.5 billion acquisition. Both companies offer residential mortgages, EverBank known to be more of an on-line lender. Is it a technology play? Perhaps. The bank has over $27 billion in deposits across the country, and this may be a move to capture more of Millennial deposits. TIAA-CREF does have retail mortgage offices…(read more)

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