CIT Group Sells Off its Last Home Related Business Interests
CIT Group announced on Monday that it was selling
both its home lending business and its manufactured-
housing division.
The lending business which has total assets of $9.3 billion as well as
servicing operations will go to Lone Star Funds for $1.5 billion. In
addition, Lone Star will assume $4.4 billion in CIT Group debt.
Vanderbilt Mortgage & Finance, Inc. will acquire…
Original post by Darin