Report: Lehman Bros. Readies For Return To Lending

Posted by Orb Staff on October 22, 2009 No Comments
Categories : Residential Mortgage

Lehman Brothers is preparing to re-enter the mortgage lending business through subsidiary Aurora Loan Services, Bloomberg reports.

Citing ‘people familiar with the matter,’ Bloomberg says Aurora, whose direct parent company, Aurora Bank FSB, did not enter bankruptcy protection with Lehman Brothers last fall, has begun hiring personnel for the initiative.

Since announcing in January 2008 that it would stop most of its lending, Aurora has continued with its servicing operations. Spokespeople for both Aurora and Aurora Bank FSB's regulator, the Office of Thrift Supervision, declined to comment for the Bloomberg report.

SOURCE: Bloomberg

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