Weyerhaeuser Corp., the paper and forest products giant, has agreed to sell its mortgage banking unit to WMC Acquisition Co., a group formed by Apollo Management LP and Spring Mountain Escrow Inc.

Apollo Management is part of Apollo Advisors, an investment firm managed by financier Leon Black. Through Apollo, Mr. Black has several real estate investments. Spring Mountain is the largest independent escrow firm in California.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.