News Topic: LoanCare
Mid America Mortgage Purchases $2.7 Billion in Mortgage Servicing Rights
Mortgage and Finance News: (ADDISON, Texas) Mid America Mortgage, Inc. (Mid America) announced today it has acquired the mortgage servicing rights (MSRs) for $2.7 billion in government loans. The portfolio includes a number of delinquent VA- and FHA-insured loans. The sale was completed at the end of March, and LoanCare, Mid America’s sub-servicer, will take possession of the purchased MSRs on May 2.