MIAC Announces its Recently Closed Transactions

NEW YORK, December 3, 2010—Acting as exclusive broker, Mortgage Industry Advisory Corporation (MIAC) has successfully closed the sale of two Freddie Mac bulk mortgage servicing portfolios in November with a combined unpaid principal balance of approximately $2.5 billion.  The first portfolio was $1.0 billion, had a WAC of 5.09%, delinquencies of 1.28%, and seasoning of 54 months.  The second portfolio was $1.5 billion with a WAC of 5.81%, total delinquencies of 3.87%, and seasoning of 63 months.  Both portfolios were offered through a competitive auction process and traded at expected market levels with full representations and warranties.

MIAC will be marketing a $70 million Fannie Mae mortgage servicing portfolio later this month that is moderately seasoned with properties primarily in Illinois.