Mortgage servicing rights on loans serviced for the Government National Mortgage Association are up for sale. The portfolio is heavily concentrated in sand states.
The MSRs are being sold by a “well-capitalized independent mortgage company,” according to a news release.
Bulk delivery will be provided for MSRs on 331 Ginnie Mae residential loans totaling nearly $111 million as of Nov. 16.
The exclusive agent on the transaction is Interactive Mortgage Advisors.
On a weighted-average basis, the interest rate is 4.054 percent, the service fee is 0.3292 percent, the original term is 357.0 months and the remaining term is 353.7 months.
Florida is where 37 percent of the properties are located, while 30 percent are in California, and 13 percent are in Arizona.
One of the loans is past-due 60 days.
The final bid date is on Dec. 11.
“The seller would prefer that the successful purchaser be capable of completing its due diligence and executing a purchase-and-sale agreement to effectuate a sale and transfer date as of Feb. 1, 2015, with a mutually agreeable transfer date to be specified in the purchase and sale agreement,” the statement said.
Interactive can be contacted at 303.830.0377.
