New York-based Mortgage Industry Advisory Corp. (MIAC) brokered the sale of two Freddie Mac bulk mortgage servicing portfolios in November with a combined unpaid principal balance of approximately $2.5 billion.
The first portfolio was $1 billion and carried a 1.28% delinquency rate. The second portfolio was $1.5 billion, with a 3.87% delinquency rate. Both portfolios were offered through a competitive auction process and traded at expected market levels with full representations and warranties, MIAC says.
The firm will be marketing a $70 million Fannie Mae mortgage servicing portfolio later this month that primarily contains properties in Illinois.