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Green Tree to Buy Origen's Servicing.(Origen Financial and Green Tree Servicing)
New York -- Origen Financial, a manufactured housing lender, has agreed to sell its servicing platform and related assets to Green Tree Servicing.
The deal includes the transfer of approximately $1.6 billion of manufactured housing loans.
While terms of the transaction were not released, Origien said it will use proceeds from the sale to retire a $15 million loan secured by the servicing assets, partially repay a $46 secured loan facility and for working capital.
As part of the sale, Green Tree will assume the lease for Origen's Forth Worth, Texas, servicing facility.
Origen, battered by difficult market conditions, previously said that it has suspended origination of new loans for its own portfolio and sold recently originated but unsecuritized loans at a loss. The company has also had to write down assets. "With the agreement to sell our servicing platform, we are now focused on trying to sell our origination platform assets and right-size our employee and cost structure to accommodate the continued management of our $1 billion securitized loan portfolio," said ...
- Green Tree Servicing Agrees to Be Acquired by Investor Group Led by...
- Press release article from: Business Wire June 27, 2007 700+ words
SAINT PAUL, Minn. -- Green Tree Servicing ("Green Tree"), a specialty consumer finance company...Keith Anderson, Chief Operating Officer of Green Tree Servicing, said, "This is great news for our organization...
- Origen Financial Announces Agreement to Sell Servicing Platform Assets to Green...
- Press release article from: PR Newswire May 1, 2008 700+ words
...the sale of its servicing platform assets to Green Tree Servicing LLC ("Green Tree"), a leading servicer of manufactured housing...a manufactured home loan servicer." About Green Tree Servicing LLC Green Tree, a privately held financial...
- Fitch Assigns 'RPS3/RSS3' Servicer Ratings To Green Tree Servicing LLC.
- Press release article from: Business Wire October 18, 2004 700+ words
NEW YORK -- Fitch Ratings assigns Green Tree Servicing LLC (Green Tree) an 'RPS3' residential primary servicer rating...servicer. The primary servicer ratings reflect Green Tree's seasoned executive and servicing management...
- Fitch Affirms Green Tree Servicing's Resi & Special Servicer Ratings.
- Press release article from: Business Wire November 27, 2006 700+ words
NEW YORK -- Fitch Ratings affirms Green Tree Servicing LLC's (Green Tree) 'RPS3+' residential primary servicer ratings...rating. The primary servicer ratings reflect Green Tree's seasoned executive and servicing management...
- Fitch Upgrades Green Tree Servicing's Resi & Special Servicer Ratings to...
- Press release article from: Business Wire December 13, 2005 700+ words
NEW YORK -- Fitch Ratings upgrades Green Tree Servicing LLC's (Green Tree) residential primary servicer ratings for subprime...The primary servicer rating upgrades reflect Green Tree's seasoned executive and servicing management...
- U.S. 4th Circuit: In re Ennis v. Green Tree Servicing, LLC.
- Newspaper article from: Daily Record (Baltimore, MD) March 9, 2009 700+ words
...satisfied. CASE: In re Ennis v. Green Tree Servicing, LLC, US4th No. 07-2134...and Disclosure Statement with Green Tree Servicing, LLC, to finance the purchase...The security agreement gave Green Tree a lien on the mobile home...
- Green Tree Servicing LLC Selects Witness Systems' Advanced Quality Monitoring...
- Press release article from: Business Wire September 12, 2005 700+ words
...services, today announced that Green Tree Servicing LLC has selected its pre-packaged...with prospects and customers, Green Tree's deployment follows an initial...assistant vice president, Green Tree Servicing LLC. "In the selection process...
- North Fork Bancorp to sell GreenPoint Credit operations to Green Tree Servicing...
- Magazine article from: Long Island Business News October 15, 2004 700+ words
...GreenPoint Credit LLC operations to Green Tree Servicing LLC. Terms of the agreement...with St. Paul, Minn.-based Green Tree is expected to close during...in anticipation of the sale. Green Tree Servicing, which was known as Conseco...
- United Properties to manage St. Paul-based Green Tree Servicing buildings.
- Newspaper article from: Finance and Commerce Daily Newspaper, MN July 7, 2005 700+ words
...Finance & Commerce Staff Green Tree Servicing, a St. Paul-based financial...portfolio. The assignment represents Green Tree's first outsourcing of facilities...will manage three buildings for Green Tree, including its headquarters...
- 8th U.S. Circuit Court of Appeals: Green Tree Servicing v. Coleman.
- Magazine article from: Minnesota Lawyer September 1, 2008 700+ words
...that the debtor could cram down the creditor's secured claim. Affirmed. Case Number: 08-6019 Case Name: Green Tree Servicing v. Coleman Court: 8th U.S. CIRCUIT COURT OF APPEALS Judges: Kressel, C.J. District: Western District...
Source: HighBeam Research, Green Tree to Buy Origen's Servicing.(Origen Financial and Green Tree...