Milestone Merchant Partners is offering for sale the servicing rights on $20 billion package loans on behalf of the Federal Deposit Insurance Corp.

The offering has been rumored for several weeks. The rights once belonged to AmTrust Bank of Cleveland, which failed late last year.

A Milestone official said Monday that the offering process had "officially" commenced.

The AmTrust portfolio is the largest bulk offering of servicing rights to hit the market this year.

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