A financial institution is unloading mortgage servicing rights on agency home loans with a concentration in the Southeast.
Two portfolios make up the MSR offering, including one with Fannie Mae loans and the other with Ginnie Mae mortgages.
The first portfolio includes 8,091 FNMA A/A residential loans that have an aggregate principal balance of $1.397 billion.
On a weighted-average basis, the FNMA portfolio has an 0.2504 percent service fee, a 3.913 percent interest rate, an original term of 322 months and a remaining term of 295 months.
The second portfolio includes 1,624 GNMA II loans for $0.258 billion with a weighted average service fee of 0.3258 percent.
The weighted-average interest rate on the Ginnie portfolio is 3.920 percent, while the weighted-average original term is 355 months and the weighted-average remaining term is 339 months.
The deal was announced
Friday by Interactive Mortgage Advisors LLC, which is the exclusive agent for the seller, “a well-capitalized state bank with a strong reputation in originating high quality mortgages.”
On the entire offering, 35 percent
of the loans are backed by properties in Tennessee, while another 13 percent are in Alabama. No other state has a double-digit concentration.
Cenlar is the sub-servicer on the loans.
“The seller prefers that the successful purchaser be capable of completing its due diligence and executing a purchase-and-sale agreement to effectuate a sale date of Feb. 29, 2016,” the notice stated. “There is flexibility, but the sale date must be no later than March 31, 2016.”
Bids are due by Jan. 20.
Interactive can be reached at 303.830.0377.
