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September 28, 2007
Ross Offers to Acquire Major Mortgage Servicer
American Home Mortgage Investment Corp. has received an offer from billionaire investor Wilbur Ross for its loan-servicing division. Ross recently established AH Mortgage Acquisition Co. to function as the initial bidder for the unit, which is charged with collecting loan payments from homeowners and paying such expenses as property taxes. Ross, who must win an auction for the unit early next month, reportedly has made an offer of more than $400 million.
Posted by S. Germain at September 28, 2007 07:42 AM