Green Tree Servicing, St. Paul, Minn., was the winning bidder on a $1 billion package of mortgage servicing rights recently auctioned off by the Federal Deposit Insurance Corp. The agency and company could not be reached for comment at press time. Sources close to the deal confirmed to National Mortgage News that Green Tree was the winning bidder. "The sale has closed," said one source, requesting he not be identified. The servicing rights belonged to Franklin Bank of Texas, which the agency took control of a year ago. Green Tree is a subservicing and specialty servicer.
Processing Content
