Bids are being accepted for mortgage servicing on agency home loans with a concentration on the West Coast.
Mortgage servicing rights on $471.05 million in residential loans have been put up for sale. Approximately 1,338 mortgages are involved.
The seller, a company that primarily lends in the Pacific region, will be providing full representations and warranties.
Mortgage Industry Advisory Corp, which is representing the seller, said all of the loans are fixed-rate, full-documentation, Fannie Mae A/A mortgages that were originated through the retail channel.
The home loans are geographically concentrated in California.
The weighted-average interest rate on the pool is 4.013 percent, and the weighted-average loan age is 16 months.
The weighted-average delinquency rate is 0.00 percent..
Interested bidders can receive a copy of the offering memorandum by contacting [email protected].