SecurityNational Mortgage Company Announces the Sale of Mortgage Servicing Rights

SALT LAKE CITY, Nov. 03, 2022 (GLOBE NEWSWIRE) -- SecurityNational Mortgage Company (the “Company”), a wholly owned subsidiary of Security National Financial Corporation (NASDAQ-SNFCA), announced the sale of substantially all of its mortgage servicing rights (“MSRs”) to PNC Bank, NA (“PNC”) for approximately $89.7 million. The Company and PNC executed the purchase and sale agreement on October 31, 2022. The MSRs relate to mortgages with an aggregate unpaid principal balance of approximately $7.05 billion that were previously originated by the Company.

Read more at globenewswire.com