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Monthly Archives: December 2015

December 28, 2015

By Paul Muolo
pmuolo@imfpubs.com

MorVest Capital, Dallas, a new player in servicing sales, has closed on a $1.2 billion auction of Ginnie Mae receivables.

No purchase price was disclosed. Both the seller and buyer are banks, said MorVest President and CEO David Fleig. Fleig said he could not identify the parties at this time.

The sale was done in conjunction with Mortgage Banking Solutions, a Texas-based consultancy.  Fleig said he is already
working on MorVest’s second offering, which he describes as a “very clean Fannie Mae/Freddie Mac portfolio.”

The new offering is about $1 billion. MorVest hopes to complete the sale by the end of January.

This entry was posted in Uncategorized on December 28, 2015