FBC closes $10 billion deal ;)
EverBank closed the deal with Troy, Mich.-based Flagstar Bancorp Inc. to purchase its residential servicing rights Friday night, according EverBank’s PR firm, SHIFT Communications.
The Jacksonville-based EverBank Financial Corp. was reportedly working on a $10 billion deal to acquire the residential servicing rights from the savings bank (NYSE: FBC), according to an article American Banker on Friday. EverBank would not confirm the deal with the Business Journal at the time.
The article cited investment banking sources familiar with the matter as saying the bid price is in the range of 75 basis points, though the figure could not be confirmed.
EverBank is the 22nd largest mortgage servicer in the nation with about $46 billion in residential loans, according to the Quarterly Data Report. The deal will jump EverBank to the 20th largest residential loan servicer nationwide.
EverBank is the third largest bank in Northeast Florida based on deposit market share of $5.8 billion as of June 30, according to the Federal Deposit Insurance Corp.
