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Huge GSE MSR Portfolio on the Market

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Bids are being sought for mortgage servicing rights on just over $3 billion in government-sponsored enterprise loans with a four-state concentration.

The offering is for MSRs on 12,115 Fannie Mae and Freddie Mac single-family loans that had an aggregate unpaid principal balance of $3.005 billion as of Nov. 30, 2017.

Colorado is the location of 32 percent of the loans securitizing the pools. Another 22 percent are in Texas, while 11 percent are in Washington, and 11 percent are in Oklahoma.

No other state has a double-digit concentration.

The offering was announced by Incenter Mortgage Advisors LLC, the exclusive agent for the seller, “a well-capitalized, independent mortgage banker with an impeccable reputation over a long history in the mortgage business.”

FHLCM ARC loans make up 2,940 units for $0.766 billion, FNMA A/A mortgages account for 6,486 loans for $1.797 billion, and FNMA MBS units represent 2,689 loans for $0.442 billion.

On a weighted-average basis, the interest rate is 3.862 percent, and the service fee is 0.2518 percent, while the original term is 340.0 months, and the remaining term is 324.0 months.

Delinquency of at least 30 days, excluding foreclosures and bankruptcies is 1.02 percent. The rate of foreclosures and bankruptcies is 0.08 percent.

“The seller would prefer that the successful purchaser be capable of completing its due diligence and executing a purchase-and-sale agreement on or before Feb. 28, 2018, with a mutually agreed upon transfer date to be specified in the purchase-and-sale agreement,” Incenter said.

The final bid date is Jan. 11. Potential bidders should contact IMA Managing Director Thomas M. Piercy at 303.302.9234 or [email protected].

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