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Large Agency MSR Offering Hits Market

Bids are being sought for servicing rights on a large portfolio of agency mortgages. The offering has a moderate concentration of Golden State and Sunshine State loans.

Mortgage servicing rights on 20,168 residential loans that had a collective unpaid principal balance of $5.232 billion as of Sept. 30 are being sold through the auction process.

Included in the offering are MSRs on $2.005 billion in Fannie Mae loans, $0.310 billion in Freddie Mac mortgages, and $2.917 billion in Ginnie Mae l loans.

California is where properties securing more than 18 percent of the loans are located. Another 12 percent are in Florida, and all other states have less than a 10th share.

Incenter Mortgage Advisors, the exclusive agent for the seller, announced the offering.

The interest rate is 4.820 percent on a weighted-average basis, while the service fee is 0.2504 percent, the original term is 349.7 months, and the remaining term is 344.4 months.

Delinquency of at least 30 days, including bankruptcies and foreclosures, is 5.19 percent.

While the seller prefers to sell the package all as one deal, it will consider separate bids for the conventional and government loans.

The final bid date is Nov. 7, and the seller wants a Jan. 31, 2019, bulk sale date. The transfer date is up for negotiation.

Parties interested in bidding on the portfolio can contact IMA Managing Director Thomas M. Piercy at 303.302.9234 or

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