Mortgage servicing rights on a nearly $2.5 billion agency portfolio are up for bid.
The portfolio consists of Fannie Mae “A/A” mortgages with a concentration in California and Colorado.
All of the loans were originated through the retail channel on a full-documentation basis.
New York-based Mortgage Industry Advisory Corp. said that it is the exclusive representative for the seller — a mortgage firm based on the West Coast.
The average loan size is $327,894, while weighted-average metrics include a 4.325 percent interest rate, a FICO score of 778 and a loan age of nine months.
Weighted-average delinquency on the $2.47 billion portfolio is 0.05 percent.
Almost all of the loans are fixed-rate.
The bid date is June 25 at 5 p.m. EST.
Inquiries should be directed to [email protected].
