Mortgage servicing rights on a small portfolio of loans backed by the Federal National Mortgage Association are being marketed for sale.
Bids are being taken for servicing on 170 Fannie Mae residential loans with a combined principal balance of $51,453,618.
The weighted-average interest rate on the loans is 3.851 percent, while the weighted-average service fee is 0.2514 percent.
The offering was announced by Interactive Mortgage Advisors LLC, the exclusive agent on the deal.
On a weighted-average basis, the original term is 303.1 months, and the remaining term is 280.9 months.
New York is the state where 93 percent of the properties backing the loans are located.
Single-family properties are backing 90 percent
of the mortgages, based on loan balance. Another five percent are secured by condominiums, and the remaining five percent are secured by properties classified as “other.”
Forty percent of the loans were used to refinance existing loans with no cashout, 39 percent were purchase financing and 21 percent were refinance cashout transactions.
There is no delinquency on the portfolio.
The final bid date is Oct. 15.
The seller prefers a buyer that can complete due diligence and execute a purchase-and-sale agreement to effect a bulk sale date prior to Nov. 30.
Interested bidders can contact Interactive at 303.830.0377.
