The servicing on nearly $10 billion in government-sponsored enterprise loans is being auctioned off. The offering has a California concentration.
Mortgage servicing rights are being offered for sale on 39,852 single-family loans that had an aggregate unpaid principal balance of $9.631 billion as of Aug. 31.
The offering was announced by
Incenter Mortgage Advisors LLC, the exclusive agent for the seller.
California is the location of properties securing 26 percent of the
loans, while another 10 percent are in Florida. No other state has a double-digit concentration.
On a weighted-average bases, the interest rate is 3.936 percent, and the service fee is 0.2521 percent, while the original term is 333.6 months, and the remaining term is 318.3 months.
None of the loans are delinquent.
The final bid date is Oct. 11.
“Seller requires that buyer be capable of completing its due diligence and executing a purchase-and-sale agreement to effectuate a sale date on or prior to Dec. 31, 2017, with a mutually agreed transfer date to be specified in the purchase-and-sale agreement,” IMN stated.
Interested parties can contact IMA Managing Director Thomas M. Piercy at 303.302.9234 or [email protected].