As I have been posting here for a while, Opteum has finally reached a deal to be sold. This has been an interesting case to follow for me personally, as I have had people pressured in to removing information that they linked from my blog about the sale by Opteum higher-ups.
The company was sold for $5,000,000. That’s right a lousy $5 million; and they were an Alt-A company folks, with lots of loans that couldn’t be sold. From HousingWire:
The company has 230 retail offices, so the $5 million purchase price equates to roughly $21,000 per location. One word: ouch.
In the end, the information (from March 29th) was correct and spot on. More coverage at Housing Wire (good to have them back, btw.)
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