MSRs on Nearly $3 Billion in Gov Loans Sold

A transaction involving the sale of mortgage servicing rights on nearly $3 billion in government loans, including past-due accounts, has closed.

The residential loans are either insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs.

Mortgages that are included in the portfolio, some of which are delinquent, have an aggregate unpaid principal balance of $2.7 billion.

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From:: Financing