(AFX UK Focus) 2009-02-05 14:52 UPDATE 2-W.L. Ross mortgage co buys Citi servicing rights (Interactive Investor)
February 5th, 2009
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NEW YORK, Feb 5 (Reuters) – American Home Mortgage Servicing Inc, owned by billionaire investor Wilbur Ross, said it bought the servicing rights to a portfolio of mortgages from Citigroup Inc. CNBC said AHMSI paid $1.5 billion. Ross made his fortune buying up distressed companies and has turned his attention to financial institutions as weakened companies such as Citigroup have started selling …
