Bombardier announces exit from servicing of Bombardier capital's manufactured housing portfolio

The agreement is subject to obtaining third party approvals and fulfilment of other customary conditions and is expected to close in the first quarter of next fiscal year.

This transaction is the continuation of Bombardier Capital's orderly portfolio wind-down initiated in 2001. Bombardier Capital will continue its activities of commercial aircraft financing, and the orderly and timely wind-down of the remaining portfolios.

Green Tree is a privately-held financial services organization headquartered in Saint Paul, Minnesota. It services manufactured housing loans, as well as home equity, home improvement and consumer installment loans. It also originates manufactured housing loans and markets insurance products to customers on a nationwide basis.

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