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Fremont Sells Rest Of MSRs to Litton.
Brea, CA -- Troubled Fremont General Corp., parent of Fremont Investment & Loan, has agreed to sell its remaining mortgage servicing rights to Litton Loan Services, a division of Goldman Sachs.
The servicing rights on a $12.2 billion home loan portfolio include the rights to receive servicing fees and ancillary income payable to Fremont under the servicing contracts.
Previously, Fremont had said the sale agreement does not include its Ontario, Calif., servicing platform. Fremont said in May that it planned to close down that facility. Litton also assumes the rights and obligations to make advances pursuant to the servicing agreements.
Also in May, Fremont entered into an agreement to sell other assets, including all its banking branches, to CapitalSource. The company also reached a forbearance ...
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