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Article: Midland Pursues Shared Servicing in Deal with $20 Billion Client: 'Shared servicing is a combination of the hosted technology component with services provided around it.'.
- Article from:
- National Mortgage News
- Article date:
- November 27, 2006
- Author:
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Midland Loan Services has taken another step forward with its "shared servicing" concept, reaching a deal to provide private-label servicing for a national Fannie Mae/Freddie Mac-approved multifamily lender with a $20 billion portfolio.
The portfolio is comprised of whole loans, mezzanine loans, discount MBS, credit-enhanced facilities and other structured credit products.
Moreover, Midland executive vice president Stacy Berger said that Fannie Mae and Freddie Mac have recently issued outsourcing policies for multifamily loan servicing, a development that gives the blessing of the giant secondary market agencies to lenders that want to engage in some ...