Bids are being sought for the servicing on a small portfolio of government-sponsored enterprise mortgages. The loans have a New England concentration.
Mortgage-servicing rights are being offered on a portfolio of 2,084 single-family loans that had a collective unpaid principal balance of $0.367 billion as of April 30.
Fannie Mae A/A loans account for 32 percent of the loans in the offering, while another 68 percent are Freddie Mac ARC mortgages.
Mortgage Industry Advisory Corp., the exclusive representative for the seller, announced the offering Monday.
Almost all of the loans were originated through the retail channel, and most of the loans are fixed rate.
Based on weighted-average numbers, the interest rate is 4.016 percent, and the service fee is 0.251 percent, while the original loan-to-value ratio is 77.9 percent, and the FICO score is 747.
The original loan term was a weighted-average 356 months, while the remaining term is a weighted-average 343 months.
MIAC noted that delinquency of at least 30 days, including bankruptcies and foreclosures, stands at 0.77 percent.
Massachusetts is the location of properties securing 31 percent of the loans, while another fifth are in Pennsylvania, 15 percent are in Maine and 14 percent are in New Hampshire.
Full representations and warranties are being provided by the seller.
Loan-level data is only available with a non-disclosure agreement.
Bids are due by June 21.
Interested bidders can contact MIAC Managing Director Dan Thomas at Dan.Thomas@miacanalytics.com or 212.233.1250 x240.
