Barclays Buys HomEq Servicing Unit from Wachovia to Flesh Out Securitization Business
June 30, 2006
Barclays Capital’s acquisition of HomEq Servicing Corp. from Wachovia has sparked a good deal of discussion on Wall Street on whether the British investment banker intends to expand even further in the American mortgage market. For the moment, all Barclays says it wants to do is use the $469 million cash acquisition as the foundation for growing its servicing business. “We are making an investment in this because we are looking at this for the…