Mortgage servicing rights are for sale on over $1 billion in government-sponsored enterprise loans with a California concentration.
FNMA A/A mortgages account for 3,640 units that had an aggregate unpaid principal
balance of $0.909 billion as of Jan. 31.
Another 1,232 of the residential loans are FHLMC ARC mortgages with a collective unpaid principal balance of $0.264 billion.
The offering was announced by
Incenter Mortgage Advisors LLC, the exclusive broker for the seller.
The seller is described as an independent mortgage banker with a strong net worth and an experienced senior management team.
Based on the number of loans, 41 percent of the properties securing the mortgages are located in California, and 10 percent are in Texas. There are no other states with a double-digit concentration.
On a weighted-average basis, the interest rate is 3.857 percent, and the service fee is 0.2557 percent. The original term is 337.7 months, and the remaining term is 329.2 months.
Delinquency of at least 30 days is 0.10 percent, and just one of the loans is in bankruptcy or foreclosure.
“The seller is flexible on a sale date and of either March 31 or April 30, 2017, but would prefer that successful purchaser be capable of completing its due diligence on or before March 31, 2017, with a mutually agreed upon transfer date to be specified in the purchase-and-sale agreement,” Incenter said.
Bids are due by March 8.
Interested bidders can contact IMA Managing Director Tom Piercy at 303.302.9234 or
[email protected].
