By: Benzinga
Flagstar Sells Northeast-Based Commercial Loans to CIT for ~$779M
Flagstar Bancorp, Inc. (NYSE: FBC ), (the "Company"), the holding company for Flagstar Bank, FSB (the "Bank"), today announced that, effective December 31, 2012, the Bank entered into a definitive Transaction Purchase and Sale Agreement (the "Agreement") under which a wholly-owned subsidiary of CIT Bank, the U.S. commercial bank subsidiary of CIT Group Inc.
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