Paratus AMC, which trades as Foundation Home Loans, is reportedly up for sale, according to a report from GlobalCapital.
Having first launched in 1998 as RFC Mortgage Services the mortgage provider was acquired by GMAC in 2000 and rebranded as GMAC-RFC.
By 2007 the lender ranked as the country’s eleventh-biggest home loan provider The company stopped lending to new customers in 2008 and focused on servicing before being acquired by Fortress Investment Group in 2010.
Q&A: Mark Whitear – Foundation Home Loans
In 2015 it transitioned its business to that of a lender and servicer and introduced the brand Foundation Home Loans.
The GlobalCapital report states that Fortress Investment Group has mandated global investment bank Houlihan Lokey to explore options for a sale. GlobalCapital also reports that it “is aware of at least one active bid for the group”.
It is understood that Houlihan Lokey has explored seeling the business in the past and has been retained for four years.
Both Houlihan Lokey and Foundation Home Loans were approached for a comment but declined.