GreenPoint Buys Stake in Winter Group

GreenPoint Financial Corp. here and its A/alternative A credit mortgage subsidiary have made a "substantial" equity investment in The Winter Group, formalizing a strategic relationship the bank holding company has had with the secondary market loan platform/broker-dealer.Each of the two New York-based companies also have made some other notable business moves recently. The Winter Group, which includes broker-dealer Terwin Capital, LLC, has secured a $600 million warehouse line from Merrill Lynch. Separately, GreenPoint has announced that its mortgage funding subsidiary has entered an agreement with PBIS Insurance, an affiliate of The Prieston Group, to cover alt A loans purchased through the former's correspondent channel against breaches of representations and warranties related to fraud. GreenPoint can be found online at http://www.greenpoint.com.