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Opteum Sold!

by Morgan on May 8, 2007

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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.)

Last 3 posts by Morgan

Related posts:

  1. Opteum Out of Wholesale and Conduit Lending
  2. More Opteum
  3. Opteum to Close?
  4. Opteum Strong Arm?
  5. Opteum Up for Sale

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