An offering of mortgage servicing rights on more than $0.6 billion in Government National Mortgage Association loans comes with an attractive service fee.
Bids are currently being accepted for MSRs on approximately
5,430 Ginnie Mae residential loans with an aggregate principal balance of $604 million.
All of the mortgages are fixed rate, and 98 percent of them were originated through the retail channel.
A hundred percent of the mortgages are owner-occupied.
MIAC Analytics, the exclusive
representative for the seller — a national originator — announced the deal Monday.
On a weighted-average basis, the interest rate is 5.642 percent, and the loan age is 18 months.
GNMA I loans account for 6.4 percent of the loans, while the remaining 93.6 percent are GNMA II loans.
MIAC noted that the service fee is 0.578 percent.
Full representations and warranties
are being provided by the seller.
Bids are due by Dec. 10.
Interested parties are being directed to contact Dan Thomas at
[email protected] or 212.233.1250 x 240.
