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MSRs Available on Nearly $0.8 Bil in Agency Loans

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Mortgage Daily

                                                 June 8, 2016

Mortgage servicing rights on nearly $0.8 billion in agency loans with a California concentration are being auctioned off.

The offering includes MSRs on
2,834 residential loans that have an aggregate unpaid principal balance of $782.930.

Based on the loan amount, more than three-quarters of the properties securing the mortgages are
located in California.

Another 10 percent are Washington properties, while no other state has a double-digit concentration.

Mortgage Industry Advisory Corp. announced that it is the exclusive representative for the seller, “a mortgage company that originates loans with a geographic concentration in California.”

Fannie Mae “A/A” mortgages account for more than 45 percent of the loans involved in the offering, according to MIAC.

Another more than 43 percent of the loans are Freddie Mac “Gold,” and the remaining more than 11 percent are Ginnie Mae II loans.

The weighted-average service fee is 0.266 percent.

On a weighted-average basis, the interest rate is 4.205 percent, the original term is 347 months and the remaining term is 342 months.

Delinquency of at least 30 days, including foreclosures and bankruptcies, is 0.39 percent.

Bids are due by June 16.

MIAC is directing interested parties to
Dan Thomas at 212.233.1250 X240 or [email protected].

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