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Over $4 Billion in Freddie MSRs For Sale

Mortgage News

Mortgage servicing rights are on the market for more than $4 billion in residential loans that are backed by the Federal Home Loan Mortgage Corp.

The offering includes MSRs on 23,856 Freddie Mac mortgages with an aggregate unpaid principal balance of $4.046 billion as of Dec. 31, 2015.

On a weighted-average basis, the interest rate is 3.952 percent, the service fee is 0.2509 percent, and the FICO score is 752.

The weighted-average original term is 323.2 months, and the remaining term is 295.1 months.

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

IMA described the seller as “a substantial non-bank mortgage banking entity with strong senior leadership experienced in all facets of mortgage banking including regular sales of bulk MSRs.”

All states have a concentration of less than 10 percent.

Delinquency of at least 30 days, including foreclosures and bankruptcies, is 0.74 percent.

Bids are due by Jan. 31.

“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, 2017, with a mutually agreed upon transfer date to be specified in the purchase-and-sale agreement,” IMA said.

Interested parties can inquire with Incenter Mortgage Advisors Managing Director
Thomas M. Piercy at 303.302.9234 or [email protected].

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