A shell mortgage banking business with full agency approvals is being offered for sale to the highest bidder through the auction process.
The shell organization
being offered is an approved seller-servicer in good standing with Fannie Mae, Freddie Mac and Ginnie Mae.
The seller,
a 30-year-old independent home lender that is based in Southern California, recently completed an asset sale to a large retail originator.
“This sale has created the opportunity for the sale of the remaining shell company,”
Incenter Mortgage Advisors, which is handling the sale as an exclusive agent, said in offering materials.
Before the sale, the seller was licensed in as many as 27 states and had loan originators and branches throughout the country.
Potential bidders will need to sign a non-disclosure agreement in order to view offering materials. Access to the data room is available until June 8.
Bids are due by June 8, and a June 29 sale date is anticipated. Agency license transfer approvals are expected by Aug. 31.
The winning bid will be determined by terms and conditions, the price offered and the financial strength of the bidder as well as the ability to meet the time table.
Interested parties can contact IMA Managing Director Christopher J. John at
303.302.9237 or [email protected].
