The acquisition allows Rice Park to “selectively perform” recapture on its MSR holdings, which the firm said could strengthen returns and reduce prepayment risk. The company outlined a dual-channel approach: It will honor existing recapture partnerships embedded in MSR purchases, and it will use Rosegate to conduct recapture when no such agreements are in place.
“Acquiring Rosegate enables us to offer a fully integrated mortgage investment platform that we believe enhances value for our investors through improved servicing retention and strategic recapture,” Craig Freel, Rice Park’s president and co-chief investment officer, said in a statement. “At the same time, we remain fully committed to our originator and servicer partners.”
Rice Park and Rosegate originally partnered in October 2024 to provide financing solutions for borrowers within Rice Park’s MSR portfolio, which includes about $61 billion in unpaid principal balance serviced through its affiliate, Nexus Nova LLC.
Under the new structure, Rosegate and Nexus Nova will operate as a single entity within Rice Park.
Rosegate will keep its brand and Charlotte headquarters and plans to expand its retail and consumer-direct lending operations. Year to date, the company produced a total volume of $117.17 million, according to Modex.
“We’re thrilled to be integrated with Rice Park and are excited to build out what we believe will be a high-quality servicing retention and recapture model,” Bryce Bradley, Rosegate’s president and CEO, said in a statement.
