Rice Park Capital Management, a Minneapolis-based private investment firm specializing in mortgage servicing rights (MSRs), has announced the acquisition of Rosegate Mortgage, a retail and consumer-direct mortgage lender headquartered in Charlotte, North Carolina.
The acquisition will expand Rice Park’s capabilities across the mortgage value chain, supporting both MSR recapture and retention strategies, while reinforcing a commitment to supporting originator partners.
Under terms of the deal, Rosegate Mortgage will continue to operate under its existing brand, maintaining its headquarters in Charlotte, while expanding its retail and consumer-direct lending operations.
“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,” said 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 will allow Rice Park to perform recapture across its MSR holdings, which will enhance returns and mitigate prepayment risk, while maintaining a strong alignment with third-party originators (TPOs) who rely on Rice Park for capital solutions, MSR liquidity and customer retention.
In order 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.
- 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 LLC. Under the new structure, Rosegate and Nexus Nova are combined into a single operating entity within Rice Park’s organizational structure.
“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,” said Bryce Bradley, president and chief executive officer of Rosegate Mortgage. “We are committed to being a leading place for customers to obtain a home loan and a great place for our team-members to work. Now within the Rice Park family, we are able to introduce ourselves to more customers and provide a high quality experience while continuing to enhance our organization and grow both the consumer-direct and retail lending channels.”
