A small offering of single-family loans includes transactions with borrowers who have high credit scores, low debt-to-income ratios and low loan-to-value ratios.
The whole-loan offering includes 101 performing first-lien mortgages that have an aggregate unpaid principal balance of approximately $31 million.
On a weighted-average basis, the FICO score is 717, the LTV ratio is 52 percent and the DTI ratio is 19 percent. The weighted-average coupon is 4.117 percent.
Mortgage Industry Advisory Corp. announced the offering on Tuesday.
“The seller is a regional bank with a desire for a consistent counterparty for a portfolio product that closely mirrors agency standards,” the statement said. “Many of the loans have a small variation in the underwriting that accommodates the borrower while maintaining 100 percent performance across the entire population.”
The seller is willing to provide credit enhancements in order to improve execution, MIAC said.
Interested parties can contact MIAC Managing Director Steve Harris at
212.233.1250, extension 212, or [email protected].
