We're hearing scattered reports that more small "bulk" servicing portfolios could be hitting the market soon. One broker we know told us that he's working on a $100 million offering but he isn't ready to go public on the details. One reason for these smaller portfolio sales: new minimum capital requirements for seller/servicers from Fannie Mae. The new net worth minimum is $2.5 million. We tried to get some color on this but Fannie's PR department did not return a telephone call about the matter. The GSE's senior vice president of communications, Chuck Greener, departed a few months back...
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