trending Market Intelligence /marketintelligence/en/news-insights/trending/g5p48ustW9S20nINuNupzQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

North Carolina-based First South Bank buying MSR portfolio

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

North Carolina-based First South Bank buying MSR portfolio

Washington,N.C.-based First South Bankis buying a portfolio of mortgage servicing rights of 452 Freddie Mac and FannieMae loans.

The loans havean unpaid principal balance of approximately $84.6 million.

The purchase— which will bring the bank's total value of mortgage servicing rights to roughly$2.8 million and the total balance of mortgage loans serviced for others to around$376.9 million — is subject to approval from Freddie Mac and Fannie Mae.

The bank isa unit of First South Bancorp Inc.