In Brief: Midwest Bank Puts Its Servicing on Sale

ALEXANDRIA, Va. - Prestwick Mortgage Group, a servicing brokerage, said it is representing a midwestern bank that wants to sell the servicing rights on its future production of Fannie Mae, Freddie Mac, and Ginnie Mae loans.

The bank is looking for a "flow" buyer of servicing rights on $120 million to $180 million of Fannie and Freddie loans and $75 million to $100 million of Ginnie loans that it expects to originate in the next 12 months. It will entertain bids for either or both.