Mortgage Industry Advisory Corp. this week sold a $527 million package of bulk servicing rights tied to Government National Mortgage Association loans.
The privately held MIAC declined to name the seller or the price paid for the receivables.
In a statement the New York based advisory firm said the package was offered through a competitive bid process "and traded at expected market levels with full representations and warranties."
A handful of bulk servicing packages are currently in the market with offerings from MIAC, and Interactive Mortgage Advisors, Denver.
As reported by National Mortgage News, HSBC Holdings is still sifting through bids on a $60 billion packages of MSRs tied to its mortgage affiliate. The bank has refused to offer any color on the sale process.
