Monday, November 23,  1:11 pm

Forward-looking intelligence allows you time to act. View this video on our restructuring content to see how you can benefit from our expertise.

New York investor Wilbur L. Ross boosted his mortgage asset business on Friday, agreeing to buy the serving rights on a portfolio of home loans from Citigroup Inc. for $1.5 billion.

The distressed asset buyer's American Home Mortgage Servicing Inc. will buy the collection rights to about 185,000 mortgages as part of the deal. The purchase price includes not just rights to mortgage servicing fees, but temporary advances Citigroup made to mortgage investors on behalf of delinquent borrowers as well. American Home indicates that most of the price is related to those advances.

This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools.

To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button.

Dig deeper, with Pipeline.

• 308 articles related to Wilbur L. Ross
• 214 in-depth records of Auctions in the Financial Services sector
• 28 company pages related to Citigroup
• 8 entries related to American Home Mortgage Servicing Inc.
• 10 years of news and analysis archives from the voice of The Deal Economy
  

Most searched keywords

• Deutsche Bank
• Birds Eye
• Cadbury AG
  
• Agrium Inc.
• Skadden Arps
• Revolution Money
• Tandberg ASA
• Aisling Capital
  
• Ken Lewis
  
• Natco