Mortgage servicing rights on thousands of agency loans are up for sale. Properties securing the loans are concentrated in the Northeast.
The portfolio of MSRs is being offered by a company that originates in the Northeast. The loans are concentrated in New York.
Fannie Mae “A/A” loans make up over 47 percent of the portfolio, while Ginnie Mae I loans account for less than 1 percent and Ginnie Mae II loans represent nearly 52 percent.
In addition, nearly 2 percent are warehouse loans awaiting delivery .
The exclusive representative for the seller is Mortgage Industry Advisory Corp.
Based on the $669.22 million amount of the underlying loans and the average loan size of $185,071, around 3,616 mortgages are involved.
All of the loans are full-documentation, fixed-rate mortgages originated through the retail channel.
The weighted-average interest rate is 3.933 percent, while the weighted-average delinquency rate is 2.27 percent and the weighted-average loan age is six months.
Bids are being accepted on just the Fannie portion of the pool, the Ginnie loans or all of the loans.
“The seller will be providing full representations and warranties for the loans included in this offering,” the announcement said.
The bid date is Jan. 30, and inquiries should be directed to [email protected].
