Milestone Merchant Partners is circulating an offering book on $30.8 billion of mortgage servicing rights that once belonged to now-defunct Taylor, Bean & Whitaker, Ocala, Fla.

Servicing investors and advisors familiar with the deal said the MSRs are tied to mortgages guaranteed by Freddie Mac. The receivables have a 12% delinquency rate, said one source who has seen the offering book.

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