SHAWNEE, Kan. - Continental Mortgage Inc., a wholly owned subsidiary of Advanced Financial Inc., has bought $26 million of servicing rights.
The deal will give CMI a total servicing portfolio of about $450 million.
At the end of CMI's second fiscal quarter, which ended Sept. 30, its servicing portfolio was about $360 million.
This purchase increased acquisitions in the third quarter to $213 million, resulting in a 60% increase in the portfolio.