Overview
- Rice Park said the acquisition enables a dual-channel recapture strategy that honors embedded agreements in acquired MSRs and uses Rosegate where no recapture terms exist.
- The company said selective recapture across its servicing book is intended to strengthen investment returns and reduce prepayment risk.
- Rosegate will keep its Charlotte headquarters and plans to expand both retail and consumer-direct lending under the Rice Park umbrella.
- Rice Park’s MSR portfolio totals about $61 billion in unpaid principal balance serviced through affiliate Nexus Nova, following a partnership with Rosegate that began in October 2024.
- Executives across the sector report shrinking recapture premiums and integration limits even as consolidation continues, with recent deals and PennyMac’s request for FASB guidance underscoring pressure on recapture economics.