A flow-purchase agreement has been negotiated that could work out to the sale of mortgage-servicing rights on nearly $50 billion in conventional home loans.
The transaction was announced by Cherry Hill Mortgage Investment Corp., a real estate finance company that invests in and manages residential loan assets.
The Moorestown, New Jersey-based company said it has entered a purchase-and-sale agreement for flow purchases of MSRs on up to $2 billion per month in conventional mortgages.
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From:: Financing