SIB Mortgage and its affiliate Ivy Mortgage are on the auction block, sources have told MortgageWire.A subsidiary of Staten Island Bancorp of New York, SIB is a top-40 lender that funded almost $10 billion in loans last year. Ivy Mortgage is the retail arm of the company; SIB Mortgage is the wholesale arm. A marketing official for SIB Mortgage said she has heard the news that the company might be for sale, but said it's "just a rumor -- I don't think it's true." But one source said an offering book has been circulated on SIB. (See the Sept. 15 issue of National Mortgage News for full details.)
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