CIT Group has agreed to sell its home lending business to Lone Star Funds, according to today’s company release.

The home lending business consisting of $9.3 billion in assets and related servicing operations was sold for $1.5 billion in cash, as well as Lone Star’s assumption of $4.4 billion of outstanding debt and other related liabilities.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.