Two portfolios of mortgage servicing rights on more than $5 billion in agency home loans are on the market. One of the portfolios has far higher delinquency than the other.
The first offering is for MSRs on 11,848 Fannie Mae and Freddie Mac loans with an aggregate principal balance of $2.230 billion.
“FNMA A/A” loans make up nearly 85 percent of the portfolio, while more than 15 percent are “FHLMC 3 ARC” loans.
The weighted-average interest rate is 4.075 percent, while the weighted-average remaining term is 308 months. The weighted-average FICO score is 736.
Retail originators were responsible for 37 percent of the loans, while 55 percent were originated through the wholesale channel and 8 percent were acquired through the correspondent channel.
Almost all of the loans are fixed rate.
Total delinquency of at least 30 days on the portfolio, including foreclosures and bankruptcies, is 1.33 percent.
The exclusive representative for the seller, Mortgage Industry Advisory Corp., said that full representations and warranties are being provided.
The bid date is Aug. 26, and the preferred sale date is Sept. 30.
Interested bidders can contact Dan Thomas at 212.233.1250×240 or [email protected].
The second offering, being marketed by Interactive Mortgage Advisors, is for MSRs on 18,539 Ginnie Mae loans for $3.17 billion.
On a weighted-average basis, the interest rate is 3.674 percent, the remaining term is 334.5 months and the service fee is 0.2941 percent.
All of the loans are owner occupied, and more than 78 percent were refinances.
Total 30-day delinquency is 7.91 percent.
The final bid date is Aug. 27.
Inquiries about the offering can be directed to 303.830.0377.
