May
10

Cerberus Said to Shut Down U.S. Rental-Home Financing Business

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  • More than 30 workers at FirstKey Holdings said to lose jobs
  • Volume of loans wasn’t large enough to justify costs

Cerberus Capital Management, which led a push by Wall Street firms to lend money to U.S. rental-home investors, is now getting out of the business.

The investment firm will no longer lend to small landlords through its FirstKey Holdings unit, and more than 30 people in the company are being fired, according to people with knowledge of the matter. The volume of loans being made wasn’t large enough to justify the infrastructure costs, said the people, who asked not to be identified because the actions are private…

Cerberus Said to Shut Down U.S. Rental-Home Financing Business

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