Rice Park Capital acquires Rosegate Mortgage

The acquisition will allow Rice Park to “selectively” recapture its MSR positions, which the company said could strengthen returns and reduce prepayment risk. The company outlined a two-channel approach: It will honor existing recapture partnerships embedded in MSR purchases, and it will use Rosegate to conduct recapture when such agreements do not exist.

“The acquisition of Rosegate allows us to offer a fully integrated mortgage investment platform that we believe will increase value for our investors through better service retention and strategic recapture,” Craig Freel, president and co-chief investment officer of Rice Park, said in a statement. “At the same time, we remain fully committed to our originator and servicer partners.”

Rice Park and Rosegate originally teamed up in October 2024 to provide financing solutions for borrowers within Rice Park’s MSR portfolio, which includes approximately $61 billion in unpaid principal managed through the subsidiary. Nexus Nova LLC.

Under the new structure, Rosegate and Nexus Nova will operate as one entity within Rice Park.

Rosegate will maintain its brand and headquarters in Charlotte and plans to expand its retail and consumer lending operations.

“We are pleased to have integrated with Rice Park and are excited to build on what we believe will be a high-quality maintenance and recovery model,” Bryce Bradley, president and CEO of Rosegate, said in a statement.