DSNews The homepage of the servicing industry
""Mortgage Industry Advisory Corporation"":http://www.miacanalytics.com (MIAC) just announced that it closed the sale of two ""Freddie Mac"":http://www.freddiemac.com bulk mortgage servicing portfolios in November with a combined unpaid principal balance of $2.5 billion.
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According to a statement from the New-York based brokerage, the first portfolio was $1.0 billion, with a delinquency rate of 1.28 percent.
The second portfolio was $1.5 billion with total delinquencies of 3.87 percent.
The New York-based brokerage says both portfolios were offered through a competitive auction process and traded at expected market levels with full representations and warranties.
The winning bidders of the mortgage servicing rights deals were not disclosed.
MIAC will be marketing a $70 million ""Fannie Mae"":http://www.fanniemae.com mortgage servicing portfolio later this month with properties primarily in Illinois.
