Mortgage Industry Advisory Corp. is offering investors two different bulk portfolios of mortgage servicing rights, one that includes a package of troubled GNMA receivables. MIAC managing director Dan Thomas cautioned that the bulk market is "not reviving in a big way" but noted that some buyers of servicing rights are beginning to see opportunities in the market. MIAC is offering a $336 million portfolio of Freddie Mac and private investor servicing rights, and what Mr. Thomas called a "high delinquency" Government National Mortgage Association package that represents $250 million worth of underlying loans. "Most of the servicing deals that are getting done are smaller deals," said Mr. Thomas. "You have firms out there that need to sell."
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