Billionaire Wilbur Ross moves into subprime servicing

Private equity firm agrees to buy Option One servicing rights

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Inman Connect New York | January 29 - February 1, 2019

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.