Deutsche Bank has been chosen to sell Aurora Loan Services (ALS), the Colorado-based mortgage banking division of Aurora Bank, according to industry officials.
At press time Deutsche had not returned telephone calls about the matter. ALS has declined to comment about the sale process.
Sources say that at this time the bank is being offered separately from the mortgage division which services about $60 billion in product.
Aurora Bank was once part of Lehman Brothers but did not go through the bankruptcy process.
Last year ALS began hiring a small number of production employees, but one company insider said origination volumes have been small.