The Chicago institution, formed in 2010 to buy the failed ShoreBank, has hired Sandler O'Neill to gauge interest from potential buyers, according to a published report.
The company, which recently shareda three-year plan to bring in more lower-cost deposits and commercial loans, seems ready to play offense a year after the abrupt ouster of its CEO.
Nonbank mortgage firms are seeking formal assurance from the Consumer Financial Protection Bureau that they will not become subject to surprise audits or enforcement without involvement of a state regulator.