Mortgage servicing rights on nearly $5 billion in loans backed by the government-sponsored housing enterprises are up for sale.
The first of two offerings is for MSRs on 15,202 loans for $3.210 billion Fannie Mae loans account for $2.925 billion, and Freddie Mac loans make up $0.284 billion.
On a weighted-average basis and the interest rate is 3.984 percent. Nearly 303 months are left on the original term of 319 months.
The offerings are being made by Interactive Mortgage Advisors, which is the exclusive broker of the sellers on both deals.
California is the location of 27 percent of the properties securing the loans based on the current principal balance. Another 7 percent are in Florida, and 6 percent are in Michigan.
None of the loans are delinquent.
The second offering is for MSRs on 6,214 loans for $1.620 billion.
Fannie loans represent $0.902 billion of the total, and Freddie loans total $0.718 billion.
The weighted-average interest rate is 4.3674 percent, and the weighted-average service fee is 0.2510 percent.
The weighted-average original term is 328 months, while the weighted-average remaining term is 320 months.
A big concentration of this portfolio — 63 percent — is backed by California properties. Another 8 percent are in New York, and 7 percent are in Massachusetts.
Forty of the loans are past-due 30 days.
The bid deadline for both offerings is Dec. 4.
Bids should be faxed to 303.302.9240.
