Mortgage servicing rights on Fannie Mae loans have come on the market, and a disproportionate share of the loans are secured by properties in the Lone Star State.
The MSR offering, which was announced on Friday, is being made on servicing rights for approximately 823 FNMA A/A mortgages.
Almost every one of the home loans, which have a weighted-average interest rate of 4.036 percent, are fixed-rate mortgages.
Mortgage Industry Advisory Corp., the exclusive representative for the seller, said all of the loans were originated through the wholesale channel.
On a weighted-average basis, the delinquency rate is 0.97 percent and the loan age is 18 months.
MIAC noted that the seller originates loans with geographic concentration in Texas.
The seller is providing full representations and warranties.
The bid date is March 24.
Inquiries can be directed to MIAC Managing Director Dan Thomas at
[email protected] or 212.233.1250×240.
