HcBank, a global mortgage lender, said Tuesday that it will pay a $2 billion loan to help a troubled mortgage company.
The mortgage lender has been struggling to make money for years and it has had trouble recruiting new investors, according to the bank.
Hc is one of the largest mortgage lenders in the U.S. The lender has reported an operating loss of $2,000 million since it was founded in 2007.
The loan was made through a government-backed loan program called the Mortgage Recovery and Investment Program, or MRIP.
The program was created by the Troubled Asset Relief Program.
The program requires lenders to make loans to troubled borrowers who have lost their homes.
Ht will help Hc cover the cost of paying off outstanding debt, according the bank’s website.
Hc is owned by a company called Bank of America, which was the largest U.K. bank to file for bankruptcy in October 2018.
Ht is the latest financial company to make a splash in recent months with high-profile deals.
Earlier this year, the Bank of New York Mellon Corp. announced a $3.2 billion deal with a China-based lender to buy a $1.9 billion loan for an office building in Manhattan.
And earlier this month, Goldman Sachs Group Inc. said it was buying $1 billion in credit default swaps to help it avoid potential losses on mortgage-backed securities.