Lender Firstmac has acquired an A$80 million portfolio of mortgages originated by the Waratah Cooperative Housing Society, which has been in receivership since last December.Waratah Cooperative, which was based in Toowong, Brisbane, collapsed after it defaulted on its Commonwealth Bank loan.In June, receivers Michael McCann and Graham Killer of Grant Thornton sought expressions of interest in the portfolio of 500 loans. Properties in the portfolio are in Brisbane, and central and northern Queensland.Firstmac managing director Kim Cannon said in a statement that Firstmac was in discussions with Waratah last year about a merger."The receivers were called in while we were still in discussions," Cannnon said.The price of the acquisition was not disclosed.