Industry NewsMortgage

Billionaire Wilbur Ross moves into subprime servicing

Private equity firm agrees to buy Option One servicing rights
Published on Mar 17, 2008

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by CareyBot

A private equity firm headed by billionaire Wilbur Ross would become the second-largest servicer of subprime loans -- collecting payments on about half a million mortgages -- if it closes a deal to acquire the servicing business of Option One Mortgage Corp.