Milestone Merchant Partners has begun a pre-marketing tour to sell a $20 billion package of mortgage servicing rights that belonged to the now-defunct AmTrust Bank of Cleveland, according to investment banking officials. "They're meeting with prospective buyers but the sale likely won't happen until the second quarter," said one advisor familiar with the situation. Milestone did not return a telephone call about the matter. The $20 billion package of receivables is the property of the Federal Deposit Insurance Corp. which seized control of AmTrust in December. Most of its assets were sold to New York Community Bank.
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