More on Servicing; Blackstone & Cerberus Pulling Back in Residential Lending – Hmmm…

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Posted To: Pipeline Press

Critics of mortgage companies owned by money management firms (versus family or employee-owned companies) will often say that equity firms are in it for the “return of capital” and are “quicker to pull the trigger” versus realizing residential lending is a “part of communities” and in it for “the long haul.” There’s a flip side to that discussion – everything is debatable, of course, but the latest example of a private equity firm changing its strategy is Cerberus Capital Management eliminating its rental home money lending operation FirstKey Holdings . Nope, it isn’t the first and won’t be the last, and in this case more than 30 people in the company are being fired. “The volume of loans being made wasn’t large enough to justify the infrastructure…(read more)

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