Mortgage Daily

Published On: October 25, 2018

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 tpiercy@incenterms.com.

FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Days with Today’s Latest Rates

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN