Winter Group Buys Hanover Due Diligence Biz

Hanover Capital Mortgage Holdings, Edison, New Jersey, has sold assets associated with its due diligence business to Terwin Acquisition, which does business as The Winter Group.The sale, which includes the assumption of certain liabilities, is expected to generate $4.7 million for Hanover after the collection of receivables retained by the company. Hanover, a real estate investment trust that invests in mortgage assets, said it plans to reinvest the proceeds in its portfolio. Tom Guba, president of The Winter Group, said his company plans to maintain Hanover's due diligence client relationships. "When combined with our existing due diligence operation in Denver and our IT capabilities, this transaction makes us a significant provider of outsourced solutions to the mortgage industry," he said. Winter maintains a capital markets residential sourcing, securitization, trading, and distribution platform. The company also has mortgage servicing and asset management capabilities. Hanover can be found online at http://www.hanovercapitalholdings.com.