A small portfolio of agency home loans that have been kicked by aggregators is available for sale from a non-bank originator.
The offering includes 18 whole loans that have been underwritten to agency guidelines. The collective unpaid principal balance is $6.3 million.
Included in the portfolio are
conventional mortgages, insured loans and uninsured government mortgages.
California, Florida and New York are the top states for property locations.
Mortgage Industry Advisory Corp. announced the offering.
The weighted-average coupon is 4.315 percent, and pricing ranges from the “70s to 90s.”
According to MIAC, the seller is a large non-bank originator.
The serviced-released transaction
can be done on a loan-level basis or through an all-or-none bid.
The April 17 news release indicated an April 5 bid date. The company didn’t immediately respond to a request for clarification about the bid date.
Potential buyers are being directed to MIAC Senior Vice President Whole Loan Sales, Trading, Brendan Teeley at
212.233.1250×281 or [email protected].