Dechert LLP advised New York Community Bancorp, Inc., a leading U.S. bank holding company, in the sale of the majority of its one-to-four family residential mortgage-related assets to an affiliate of Cerberus Capital Management, L.P., one of the world’s leading private investment firms. As of March 31, 2017, the carrying value of these assets was approximately $1.9 billion.
The Dechert global finance team that advised New York Community Bancorp was led by finance partner Ralph Mazzeo and included associates Fatima Mohammed, Marisa Hamalian, and Paul McAleer.
The transaction is expected to close during the third quarter of 2017.
Read the full press release “New York Community Bancorp, Inc. Announces Strategic Sale of Mortgage Banking Business and Residential Assets Covered under FDIC Loss Share Agreement.”
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