Home Point Puys Stonegate; Citi Bails on Servicing Biz; Demographics Helping Lenders

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Posted To: Pipeline Press

I certainly am hearing some dire numbers from appraisers out there – like their business, which kind of gets the ball rolling for a loan so could be considered a leading indicator, is down upwards of 50%. Let’s hope it’s a temporary blip. What if your appraisal was off by a couple mil? Rocker Stevie “Guitar” Miller may have something to say about values of hard to appraise properties. And no, it’s not even a yurt. How much is your company worth? If you own a multi-channel lender doing about $800 million a month, and earning about $17 million a month in revenues on that, what is your company worth? Answer: $211 million. I am, of course, simplifying things immensely, but those are the stats in the Home Point Financial Corp. deal to acquire Stonegate Mortgage Corp…(read more)

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