A buyer is being sought to acquire the servicing on a small portfolio of agency loans that are primarily concentrated in Illinois.
The offering is for mortgage-servicing rights on 4,110 single-family loans that had a collective unpaid principal balance of $0.792 billion as of May 31.
Illinois is the location of residential properties securing 73 percent of the loans in the pool. No other state has a double-digit share.
The exclusive broker for the seller, Incenter
Mortgage Advisors LLC, announced the offering Tuesday.
On a weighted-average basis, the interest rate is 4.010 percent, and the service fee is 0.2671 percent, while the original term is 317.8 months, and the remaining term is 297.0 months.
Delinquency of at least 30 days, including foreclosures and bankruptcies, stands at
Bids are due by June 28.
More details about the loans are available with a non-disclosure agreement. Potential bidders should reach out to
IMA Managing Director Thomas M. Piercy at 303.302.9234 or [email protected].