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From Housing Wire:
Under the executed letter of intent, the buyer would obtain the Companyâ??s sub-prime residential loan servicing platform, as well as a portion of the Companyâ??s sub-prime loan origination platform. In addition, the Company would sell to the buyer all of its mortgage servicing rights, servicing advances, residual interests, and mortgage-backed securities.
As the buyer becomes known and the terms of the final deal emerge we’ll have more commentary. Stay-tuned to Housing Wire as they always have great inside-information early!
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