Centerbridge Said to Seek $1 Billion for Green Tree Servicing

Bloomberg reported recently that Centerbridge Capital Partners LLC is seeking to sell Green Tree Servicing LLC, the loan servicer it acquired in 2007, for about $1 billion. According to the report, Morgan Stanley is running the sale and has contacted private-equity firms and potential strategic buyers about purchasing Green Tree. According to the company’s web site, Green Tree is the largest servicer in the U.S. for manufactured housing loans, and also services residential mortgages, second liens and home-equity lines of credit. Green Tree has more than 1,800 employees in 29 offices. The story cited unnamed sources.

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