Residential loan servicers that are interested in growing their portfolios have an opportunity to do so through an ongoing source and a bulk purchase.
An offering for flow servicing is up for bid from a mortgage banker that originates loans across the country.
The successful bidder will pick up mortgage servicing rights on $50 million in agency home loans each month.
Mortgage Industry Advisory Corp. is representing the seller, which it says is a well capitalized mortgage company.
More than two-thirds of the loans are Ginnie Mae, while nearly a third are Fannie Mae mortgages.
MIAC said that almost 98 percent of the loans are fixed rate. The average loan size is $202,629.
Full representations and warranties are being provided by the seller.
The bid date is Sept. 24.
Interested parties are being directed to contact Dan Thomas, managing director, at 212.233.1250, extension 240, or [email protected].
Another offering being presented by Interactive Mortgage Advisors LLC involves MSRs on 504 Fannie Mae loans for $127 million.
On a weighted-average basis, the interest rate is 4.616 percent, the remaining term is 322.1 months and the age is 8.4 years.
Interactive said the weighted-average service fee is 0.2661 percent.
None of the loans are delinquent.
The final bid date is Sept. 25.
More details about the portfolio are online at http://media.wix.com/ugd/0d12d8_3538fa71522a43aaa679e1d5ff9b5a3a.pdf.
