Shellpoint Buys Mortgage Servicing Firm

Law360, New York (October 2, 2013, 5:56 PM EDT) -- Shellpoint Partners LLC is acquiring Resurgent Mortgage Servicing for an undisclosed price, rebranding the latter as Shellpoint Mortgage Servicing, the residential mortgage origination investment company announced Tuesday.

In connection with the deal, Shellpoint's New Penn Financial LLC subsidiary will acquire Resurgent Capital Services' mortgage servicing unit to create Shellpoint Mortgage Servicing, which will operate as a division of and servicer for New Penn. RMS currently services New Penn's mortgage loans.

The terms of the deal were not disclosed, but as of Aug. 31, Resurgent's servicing portfolio...
To view the full article, register now.