Green Tree Servicing's acquisition of GreenPoint Financial's manufactured housing portfolio is considered by Lehman Brothers analysts to be a positive over the medium-term for a select number of GreenPoint MH holders, given Green Tree's "superior servicing capabilities." But analysts warn that over the short-term, bondholders should expect considerably higher liquidation rates.

Following the the Oct. 1 purchase of GreenPoint by North Fork Bancorp, it agreed to sell GreenPoint Financial's $8.6 billion MH loan servicing portfolio to Green Tree on Oct. 8. In the MH sale, Green Tree will take over the servicing of GreenPoint 's portfolio and will add roughly 800 employees from GreenPoint's servicing operation to its own.

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.