The sale of nearly $70 million in single-family loans has been completed. All of the mortgages in the transaction are currently reperforming.
An announcement issued on Thursday indicated that residential loans with an aggregate unpaid principal balance of $66 million have been sold.
According to the news release, the home loans were previously delinquent. But as of the transaction date, the loans are classified as reperforming.
Mortgage Industry Advisory Corp., which issued the press release, was the exclusive broker for the seller.
New York-based MIAC said that it placed the mortgages through its whole-loan desk.
No other details were provided by MIAC about the terms of the transaction, the loans, the seller or the buyer.
