Bids are being accepted for mortgage servicing rights on more than $3 billion in Federal Home Loan Mortgage Corp. loans.
MSRs on 16,179 Freddie Mac ARC loans are being offered for sale. The aggregate principal balance on the loans is $3.477 billion.
Texas is home to 10 percent of the properties backing the mortgages, while more than 9 percent are secured by California properties.
The exclusive agent for the seller is Interactive Mortgage Advisors.
Fixed-rate 30-, 20- and 15-year mortgages account for 14,715 of the loans, The remaining loans are either one-year adjustable-rate mortgages or hybrid 7/1 and 5/1 ARMs.
The interest rate is 3.704 percent on a weighted-average basis, while the service fee is 0.2574 percent.
On a weighted average basis, the original term is 324.2 months, and the remaining term is 307.7 months.
None of the loans are delinquent.
Bids are being accepted until Dec. 16, and the seller wants to effectuate a bulk sale date on or prior to Jan. 31, 2015.
