By Staff Writer
According to a filing with the U.S. Securities and Exchange Commission on Monday, PHH Mortgage Corporation has closed the sale of nearly its entire Freddie Mac portfolio of mortgage servicing rights (MSR) to New Residential Mortgage, LLC—about 81,500 loans. New Residential picked up the portfolio for approximately $110 million. Of that sum, $101.5 million was attributable to the purchase rights for the Freddie Mac MSR portfolio and $8.5 million was for related servicing advances.
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