Bids are being accepted on two portfolios of mortgage servicing rights with more than $1 billion in agency loans.
The first offering is for MSRs on 999 Fannie Mae loans with an aggregate principal balance of $155 million.
On a weighted-average basis, the interest rate is 4.255 percent, the service fee is 0.25 percent and the remaining term is 293.3 months.
Interactive Mortgage Advisors LLC is the exclusive agent for the seller, a state-chartered bank.
Just 11 of the loans are delinquent at least 30 days, while another four are either in bankruptcy or foreclosure.
Bids must be received by Oct. 28 at noon, and a Nov. 28 sale date is desired.
Interested parties can call 303.830.0377 or send a fax to 303.302.9240.
A second, far larger offering is being handled by MountainView Servicing Group.
The offering includes MSRs on 7,174 Fannie Mae and Ginnie Mae loans for $1.039 billion.
Fixed-rate mortgages account for 97 percent of the loans, which are all first liens. The original FICO score is 716 on a weighted-average basis, while the original loan-to-value ratio is 86 percent, and the interest rate is 4.53 percent.
Wisconsin is the location of properties securing 16 percent of the loans, while Georgia home to 12 percent. Another 11 percent of the loans are backed by Texas properties, and Florida is home to 10 percent.
“The Fannie Mae servicing is being offered on a bifurcated basis, meaning that the buyer in no way will be responsible for origination or prior servicer representations and warranties,” MountainView Servicing Group Managing Director Matt Maurer said in an announcement. “Given the recent move down in rates, these MSRs offer buyers the opportunity to generate recapture income without taking on counterparty/repurchase risk.”
Portfolio bids are due by Oct. 29. Calls can be made to 303.633.4700.
