Mortgage servicing rights on more than $1 billion in Ginnie Mae loans with a Texas concentration are being marketed for sale.
The offering is for MSRs on 5,421 residential loans that had a collective unpaid principal balance of $1.173 billion as of April 30.
Nearly half of the loans are secured by Texas properties. Another 15 percent are in Oklahoma, and 14 percent are in Colorado.
Incenter Mortgage Advisors LLC, the exclusive broker for the seller, announced the offering on Thursday.
IMA noted that the seller
is independent mortgage banker that sells regularly and is well-known for its ease of transaction.
The weighted-average interest rate is 3.872 percent, and the weighted-average service fee is 0.3707 percent.
The original term is 358.2 months on a weighted-average basis, while the remaining term is 344.1 months.
Delinquency of at least 30 days, including foreclosures and bankruptcies, is 4.77 percent.
More than 90 percent of the loans were originated through the retail channel.
The sub-servicer is Cenlar.
Bids are due by June
7.
Interested bidders can contact Incenter Managing Director Thomas M. Piercy at 303.302.9234 or [email protected].
