The Federal Deposit Insurance Corp. has finally unloaded $23 billion of mortgage servicing rights that once belonged to AmTrust Bank of Cleveland, but is saying little about the deal.
Servicing advisors and brokers familiar with the offering confirmed that the sale closed a few weeks ago. As National Mortgage News went to press, an FDIC spokesman had not returned two telephone calls about the matter.
"Nothing's official yet, but it's a closed deal," said one source close to the situation.
AmTrust's servicing rights went to two different buyers: MetLife Bank, and Nationstar Mortgage, NMN reported last month. (Neither firm would comment.)
AmTrust Bank, once a major correspondent mortgage lender, failed almost a year ago. Most of its assets were sold to New York Community Bank, but not the receivables.
