CIT Group Sells Off its Last Home Related Business Interests

CIT Group announced on Monday that it was selling both its home lending business and its manufactured- housing division. The lending business which has total assets of $9.3 billion as well as servicing operations will go to Lone Star Funds for $1.5 billion. In addition, Lone Star will assume $4.4 billion in CIT Group debt. Vanderbilt Mortgage & Finance, Inc. will acquire... Read More Now