Fortress Investment Group must feel like a kid in a candy store — a kid with a ton of money to spend and possibly more on the way. Its goal: to put at least $500 million of investor money to use, purchasing mortgage servicing rights in the secondary market.
One source I know who plays in this market suggested that in time the publicly traded Fortress might even have $650 million to spend. Do I hear $1 billion? But I’m getting ahead of myself.