New Residential closes purchase of PHH’s Fannie MSRs

Sentiment. cuts. “Low unemployment, solid job growth and favorable demographics should support housing demand in the coming months,” NAHB Chairman Randy Noel, a custom-homebuilder from Louisiana,

This sale rides on the coattails of New Residential’s $950 million purchase of Citigroup’s servicing rights back for Fannie Mae- and Freddie Mac0back loans in January, as reported by Bloomberg. Those loans have an outstanding balance totaling $97 billion.

New-home sales unexpectedly jump to highest level since 2007 WASHINGTON-Sales of previously owned homes rose unexpectedly in August to the highest level since 2007 as buyers rushed to lock in deals before mortgage rates increased further. But the industry’s trade group warned that home sales could slow in the coming months due to higher borrowing costs and prices.