While some mortgage acquisitions have recently closed, one fell through just hours before it was supposed to be consummated. One company that was set to close down is back in business.
Back in April, Flagstar Bancorp Inc. disclosed that it agreed to acquire assets of Opes Advisors Inc., a Cupertino, California-based company with $3 billion in annual originations.
On May 15, Troy, Michigan-based Flagstar announced that it has completed the acquisition, expanding its retail origination business and significantly increasing its access to purchase-money business.
Source: Mortgage Daily