AmeriFirst outlines $8 million private sale of mortgage servicing rights

Chicago, Nov. 1 – AmeriFirst Financial, Inc. is seeking authorization for a private sale of $8 million of mortgage servicing rights to Money Source Inc., according to a motion filed with the U.S. Bankruptcy Court for the District of Delaware.

The mortgaging servicing rights cover an $873 million portfolio comprising conventional loans issued by Fannie Mae and Freddie Mac and $42 million in government loans issued by Ginnie Mae.

The Money Source was chosen from a pool of bidders, coming in with the highest and best bid.

The sale date would be Nov. 30 with a Feb. 1, 2024 transfer date.

A hearing regarding the sale is suggested for Nov. 14.

AmeriFirst Financial is a mortgage lender based in Mesa, Ariz. The company filed bankruptcy on Aug. 24 under Chapter 11 case number 23-11240.

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