New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 7, 2013
07:51 EDTNSM, FIG, NCT, BACNewcastle 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
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
May 19, 2015
16:19 EDTNSMNationstar Chief Strategy and External Affairs Officer to resign June 19
Subscribe for More Information
16:01 EDTBACOptions Update; May 19, 2015
iPath S&P 500 VIX Short-Term Futures down 27c to 19.17. Option volume leaders: AAPL BAC WMT MSFT FB TWTR MNKD NFLX T PBR
09:37 EDTBACActive equity options trading on open
Subscribe for More Information
06:31 EDTFIG, NCTFortress Investment reports 6.4% stake in Newcastle Investment
Fortress Investment Group (FIG) reports a 6.4% stake in Newcastle Investment (NCT).
06:24 EDTBACU.S. Bancorp and Bank of America win dismissal of mortgage claims, Reuters says
Subscribe for More Information
May 18, 2015
16:00 EDTBACOptions Update; May 18, 2015
Subscribe for More Information
09:46 EDTBACMPLX enters common unit sales agreement for up to $500M
Subscribe for More Information
09:36 EDTBACActive equity options trading on open
Subscribe for More Information
May 15, 2015
16:01 EDTBACOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
10:15 EDTBACBank of America reports April default rate 2.93% vs. 2.94% last month
Subscribe for More Information
07:09 EDTNSMHayman Capital gives quarterly update on stakes
Subscribe for More Information
06:17 EDTBACBank of America CEO still struggles to move past financial crisis, WSJ reports
Five years into his job as Bank of America CEO, Brian Moynihan is still struggling to move past the financial crisis, which is testing his reputation as a "fixer" as well as the patients of investors who are concerned about his progress in turning the bank around, The Wall Street Journal reports. Reference Link
May 14, 2015
16:00 EDTBACOptions Update; May 14, 2015
Subscribe for More Information
May 13, 2015
09:39 EDTBACActive equity options trading on open
Subscribe for More Information
07:29 EDTBACUBS to hold a conference
Subscribe for More Information
May 12, 2015
14:13 EDTBACBove says it may be time to buy bank stocks
Subscribe for More Information
May 11, 2015
16:00 EDTBACOptions Update; May 11, 2015
Subscribe for More Information
09:58 EDTBACBarclays expected to pay GBP2B to settle forex rigging charges, FT says
Subscribe for More Information
09:37 EDTBACActive equity options trading on open
Subscribe for More Information
08:18 EDTBACBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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