The secondary market for mortgage servicing rights has recently seen activity on several agency deals, including some involving commercial real estate loans.
EverBank Financial Corp. said on March 31 that it closed on the sale of MSRs on $10.3 billion in home loans. The portfolio includes servicing on Fannie Mae, Freddie Mac and private investor loans.
The buyer in the transaction was Green Tree Servicing LLC, a unit of Walter Investment Management Corp.
Jacksonville, Fla.-based EverBank said it expects to close on the sale of MSRs on another $1.9 billion in loans to Green Tree.
In addition, EverBank said it has received all third-party consents necessary to close on the sale of its default servicing platform to Green Tree.
April 30 is the bid date for an offering of MSRs on 677 agency mortgages for $180 million being marketed by Mortgage Industry Advisory Corp. All of the loans are full-documentation loans originated through the retail channel.
Two-thirds of the loans are FNMA A/A, while 24 percent are FHLMCÂ Gold and 11 percent are GNMAÂ II. The weighted-average interest rate is 4.502 percent, and the weighted-average service fee is 0.243 percent. The portfolio has a concentration of loans in California.
The seller, “a mortgage company that originates loans across a national geographic footprint,” will be providing full representations and warranties for the loans. Bids can be made on just the Fannie, Freddie or Ginnie Mae portions of the portfolio.
The contact for the offering is MIAC Managing Director Dan Thomas, who can be reached at [email protected] or 212.233.1250 x240.
MSRs on a portfolio of 367 Fannie Mae loans for $69 million is being marketed by MIAC. All the loans are fixed-rate and retail-originated. Reflecting the geographic market of the mortgage company that originated the loans, the portfolio has a Florida concentration. Full representations and warranties are being provided by the seller.
MIAC was recently marketing MSRs on $178 million in Ginnie fixed-rate multifamily loans. A national commercial real estate lender was the seller in that deal.
Another portfolio that MIAC was recently marketing was for MSRs on $191 million in Ginnie and Fannie loans from a national mortgage firm.
