Mortgage real estate investment trust Two Harbors Investment Corp said its unit would purchase a pool of mortgage servicing rights (MSRs) from Flagstar Bancorp Inc for about $500 million. Flagstar Bank will sell a portion of its MSRs portfolio to Matrix Financial Services Corp, a unit of Two Harbors.The portfolio of mortgage loans has unpaid principal balances of about $40.7 billion and consists of Fannie Mae and Ginnie Mae loans primarily originated after 2010, the companies said in separate statements."We periodically evaluate the sale of MSRs as a way to reduce the concentration of the asset," Flagstar CEO Alessandro DiNello said in a statement.Flagstar earlier this year settled lawsuits with bond insurers Assured Guaranty Ltd and MBIA Inc over misrepresenting the quality of loans underlying its mortgage-backed securities.
Assured Guaranty Ltd. (AGL) is a Bermuda-based holding company. Shares of AGO traded higher by 1.29% or $0.29/share to $22.84. In the past year, the shares have traded as low as $13.79 and as high as $24.81. On average, 2495470 shares of AGO exchange hands on a given day and today's volume is recorded at 2149112.
Flagstar Bancorp, Inc. is a savings and loan holding company. Shares of FBC traded higher by 2.39% or $0.42/share to $17.98. In the past year, the shares have traded as low as $12.29 and as high as $20.38. On average, 245025 shares of FBC exchange hands on a given day and today's volume is recorded at 162357.
MBIA Inc. (MBIA) together with its consolidated subsidiaries, operates the financial guarantee insurance businesses in the industry and is a provider of asset management advisory services. Shares of MBI traded higher by 1.99% or $0.22/share to $11.25. In the past year, the shares have traded as low as $7.66 and as high as $16.15. On average, 3098910 shares of MBI exchange hands on a given day and today's volume is recorded at 3679146.
The Bancorp, Inc. is a financial holding company with a wholly owned subsidiary, The Bancorp Bank (the Bank). Shares of TBBK traded higher by 1.66% or $0.28/share to $17.19. In the past year, the shares have traded as low as $10.39 and as high as $19.14. On average, 169125 shares of TBBK exchange hands on a given day and today's volume is recorded at 121760.
Two Harbors Investment Corp. (Two Harbors) operates as a real estate investment trust (REIT). Shares of TWO traded higher by 1.31% or $0.12/share to $9.31. In the past year, the shares have traded as low as $8.94 and as high as $13.05. On average, 4365060 shares of TWO exchange hands on a given day and today's volume is recorded at 3945752.
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