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MSRs Offered On Nearly $4 Billion in GSE Loans

Mortgage News

The servicing on nearly $4 billion in single-family loans that are backed by the government-sponsored enterprises is being offered for sale. The portfolio has a Lone Star State concentration.

A buyer is being sought for mortgage servicing rights on 16,054 residential loans that had an aggregate unpaid principal balance of $3.854 billion as of July 31.

Fannie Mae A/A mortgages account for 11,668 of the loans, while Freddie Mac ARC loans number 3,409, and Fannie Mae MBS mortgages make up the other 977 units.

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

Thirty-eight percent of the loans are secured by properties that are located in Texas. All other states have a share of less than a 10th.

Weighted-average data reported include a 752 FICO, 3.847 percent interest rate and 0.2501 percent service fee. The original term is 330.8 months, and the remaining term is 308.4 months.

Delinquency of at least 30 days, including bankruptcies and foreclosures, was reported at 0.08 percent.

The seller wants the successful bidder to complete its due diligence in time to meet an Oct. 31 sale date. The transfer date will be negotiated.

Bids are due by Sept. 13.

More information is available from
IMA Managing Director Thomas M. Piercy at 303.302.9234 or [email protected].

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