The news Computershare, the provider of share registry and employee share plan services, is selling its troublesome mortgage services business in the US to asset manager Rithm Capital for $US720 million ($1.13 billion).
The sale comes just after the business returned to profitability in a highly competitive market where it had suffered from lower refinancing volumes and weaker mortgage originations.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
