New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 7, 2013
07:51 EDTNCT, NSM, BAC, FIGNewcastle Investment to acquire excess MSRs, spin-off residential assets
Newcastle Investment (NCT) announced that it has agreed to acquire an interest in Excess Mortgage Servicing Rights, or MSRs. The total unpaid principal balance of the underlying loans was approximately $215B as of November 30, 2012. In a separate transaction on January 4, 2013, Newcastle acquired an interest in the Excess MSRs on a $13B Ginnie Mae pool. These transactions are expected to bring Newcastle’s total investment in Excess MSRs to approximately $610M and the UPB of the underlying loans to over $310B. Newcastle has agreed to acquire Excess MSRs on approximately $215B UPB from Nationstar Mortgage Holdings (NSM), in conjunction with Nationstar’s purchase of MSRs from Bank of America (BAC). Newcastle has committed to invest approximately $340M to acquire a one-third interest in the Excess MSRs. The majority of the investment is expected to close in the first quarter of 2013, subject to regulatory and third-party approvals. Nationstar will service the loans and will retain a one-third interest in the Excess MSRs; a Fortress (FIG) Fund will acquire the remaining one-third interest. The loans comprise four pools, of which 47% are expected to be loans that are owned, insured or guaranteed by Agency/Government entities and 53% are expected to be non-conforming loans in private label securitizations. Separately, Newcastle invested $27M for a one-third interest in the Excess MSRs on a $13B UPB Ginnie Mae loan pool from Nationstar. As in the transaction described above, Nationstar is the servicer and owns a one-third interest. The Fortress Fund acquired the remaining one-third interest. Newcastle intends to spin off these and certain other residential assets.
News For NCT;NSM;BAC;FIG From The Last 14 Days
Check below for free stories on NCT;NSM;BAC;FIG the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
September 25, 2014
15:10 EDTBACHolder resignation as AG positive for banks, says Rafferty Capital
Subscribe for More Information
08:00 EDTBACBuy American Express and Bank of America into earnings, says Morgan Stanley
Morgan Stanley says to buy American Express (AXP) and Bank of America (BAC) going into Q3 earnings. The firm expects American Express to report accelerated credit card spending growth and views valuation as compelling and views Bank of America is a play on rising rates and improving expenses.
September 24, 2014
15:04 EDTBACGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
Subscribe for More Information
September 23, 2014
15:33 EDTBACBofA announces $10B Catalytic Finance Initiaive, to committ $1B in capital
Subscribe for More Information
September 22, 2014
10:00 EDTBACBank of America rallies, levels to watch
Subscribe for More Information
September 20, 2014
19:48 EDTBACBank of America could climb over 50%, Barron's says
Subscribe for More Information
September 19, 2014
16:00 EDTBACOptions Update; September 19, 2014
Subscribe for More Information
September 18, 2014
16:00 EDTBACOptions Update; September 18, 2014
Subscribe for More Information
14:08 EDTBACBanks look to high-interest personal loans to boost revenue, WSJ says
Subscribe for More Information
September 17, 2014
16:00 EDTBACOptions Update; September 17, 2014
iPath S&P 500 VIX Short-Term Futures down 24c to 27.63. Option volume leaders: AAPL TSLA BAC TWTR AMZN X WLT KO PBR according to Track Data.
13:16 EDTBACHolder says DOJ looking to charge bank executives, Washington Post says
Subscribe for More Information
11:09 EDTNSMNationstar management to meet with Oppenheimer
Meeting to be held in Boston on September 17 hosted by Oppenheimer.
09:04 EDTFIGFortress provides $50M in capital financing for Spirit Music Group
Fortress Credit has granted Spirit Music Group $50M in new capital commitments to pursue its expansion plans.
06:54 EDTBACNY Attorney General announces NYC bank identity-theft ring takedown
Subscribe for More Information
September 16, 2014
16:00 EDTBACOptions Update; September 16, 2014
Subscribe for More Information
14:44 EDTBACVirginia AG files $1.15B lawsuit against banks that sold RMBS during crisis
Subscribe for More Information
13:15 EDTBACBank of America gives up $6B in revenue with new consumer strategy, Reuters says
Subscribe for More Information
11:54 EDTBACBank of America reportedly cutting jobs in NY, Houston, DealBreaker says
Subscribe for More Information
07:43 EDTBACRBC Capital to hold a conference
Subscribe for More Information
06:03 EDTBACHuntington Bancshares completes acquisition of 24 Bank of America branches
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use