As part of its strategy to eliminate its entire mortgage servicing portfolio, PHH Corp. has sold mortgage-servicing rights on its Fannie Mae loans.

The Mount Laurel, New Jersey-based company has completed the sale of substantially all of its MSRs on Fannie Mae single-family loans.

Proceeds from the sale of the MSRs, which was originally announced back in December 2016, amounted to approximately $333.1 million.

Source: Mortgage Daily