A small portfolio of scratch-and-dent home loans that are performing has been put on the secondary mortgage market.
The secondary offering, announced on Wednesday, is for five residential loans with loan amounts that total $561,310.
Three of the loans in the offering are conforming fixed-rate mortgages, while the other two are government-backed.
Mortgage Industry Advisory Corp., which announced the deal, said the seller is a large, non-bank originator.
The performing loans are agency fallout.
Full details on the offering are available upon the execution of a non-disclosure agreement.
Loan-level bids are due by Dec. 30.
Potential bidders should contact
MIAC Vice President Whole Loan Sales Trading Brendan Teeley by phone at his office phone (212,233.1250 x281), on his mobile phone (317.531.5297) or at his email address ([email protected]).