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...And its Sharpe ratio — a measure of return adjusting for risk — has also improved from 2.65 in the earlier period to 2.78 over the past 10 years....
...Ocwen Financial fought off stiff competition from Nationstar Mortgage to win a bankruptcy court auction of Residential Capital’s mortgage servicing and origination business....
...Ocwen Financial and NationStar Mortgage will compete for the chance to buy the business at the Sheraton Hotel in New York. They have both valued the ResCap rights at around $2.5bn....
...As part of its bankruptcy, ResCap said it intended to accept “stalking horse” bids of up to $1.6bn from Ally for its loan portfolio and $2.4bn from Nationstar, a home lender majority owned by private equity...
...Warren Buffett-watchers were taken by surprise earlier this month when his Berkshire Hathaway company bid $2.45bn for the mortgage business of ResCap, a lossmaking unit pushed into bankruptcy by its parent...
...ResCap will add $374bn to the almost $200bn of mortgage assets already serviced by Nationstar, the largest non-bank mortage loan servicer in the US....
...But the judge selected Nationstar, a mortgage servicer majority owned by Fortress, which ResCap had originally proposed as the stalking horse bidder....
...Nationstar Mortgage, a mortgage servicer backed by Fortress Investment Group, raised $233m last month despite having a post-IPO leverage ratio of 7.8 times – the highest level in at least three years for...
...PART 2: On property cycles FT: But it’s always perilous to overgeneralize from history, but obviously you lived through, thrived and prospered from the last down cycle in real estate 20 years ago; what...
...“There has been a focus on banks’ capital, liquidity and their mortgage exposure.”...
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