Investment firm Rice Park Capital Management, specializing in mortgage servicing rights (MSRs), has acquired Rosegate Mortgage, retail and consumer-direct mortgage lender headquartered in Charlotte, for an undisclosed sum.
The strategic acquisition expands Rice Park’s capabilities across the mortgage value chain, supporting both MSR recapture and retention strategies while reinforcing its commitment to supporting originator partners, the firm says in a release.
“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,” says Craig Freel, president and co-chief investment officer of Rice Park. “At the same time, we remain fully committed to our originator and servicer partners. Our platform is designed to offer flexibility—providing capital and MSR solutions that preserve and support our partners’ customer relationships.”
The integration of Rosegate allows Rice Park to selectively perform recapture across its MSR holdings, which Rice Park believes will enhance returns and mitigate prepayment risk, while maintaining its strong alignment with third-party originators who rely on Rice Park for capital solutions, MSR liquidity and customer retention.
To manage this dynamic, Rice Park has developed a dual-channel strategy:
- For MSR acquisitions with embedded recapture partnerships, Rice Park will support and respect those relationships; and
- For MSRs without an embedded recapture agreement, Rice Park will utilize Rosegate to pursue recapture directly.
Rice Park and Rosegate initially partnered in October 2024 to provide financing solutions for borrowers within Rice Park’s MSR portfolio, which includes approximately $61 billion in unpaid principal balance serviced through its affiliate, Nexus Nova.
Under the new structure, Rosegate and Nexus Nova are combined into a single operating entity within Rice Park’s organizational structure.
Rosegate will continue to operate under its existing brand, maintaining its headquarters in Charlotte, NC, and expanding its retail and consumer-direct lending operations.