A portfolio of mortgage servicing rights on Ginnie Mae loans is being marketed for sale. Prospective buyers have just over a week to act.
The offering involves approximately 816 GNMA II home loans backed by residential properties located throughout the country.
Almost every one of the loans are fixed rate, and 100 percent of the loans were originated through the retail channel.
The exclusive representative for the seller, Mortgage Industry Advisory Corp., said the seller is providing full representations and warranties on the loans.
The $147 million in mortgages have a weighted-average interest rate of 3.982 percent, and the weighted-average loan age is 24 months.
Delinquency, on a weighted-average basis, is 13.33 percent.
The bid date is Feb. 27.
Interested parties are being directed to contact Dan Thomas at 212.233.1250×250 or [email protected].
