Mortgage Daily Logo

Huge GSE MSR Portfolio Up for Bid

Mortgage News

Bids are being taken for mortgage servicing rights on billions of dollars in home loans backed by the government-sponsored enterprises.

The offering is for MSRs on 27,552 loans, including 23,366 that are backed by Fannie Mae and 4,186 that are backed by Freddie Mac.

California properties secure 16 percent of the residential loans, while another 14 percent are in Texas, and 12 percent are located in Florida.

Interactive Mortgage Advisors, the exclusive agent for the seller, reported that the aggregate principal balance on the loans is $5.993 billion.

Using a weighted average, the service fee is 0.2570 percent, the original term is 309 months and the remaining term is seven months.

The weighted-average interest rate is 3.977 percent.

None of the loans are delinquent, in foreclosure or in bankruptcy.

“The seller would prefer that the successful purchaser be capable of completing its due diligence and executing a purchase-and-sale agreement to effectuate a bulk sale date on Jan. 1, 2016, with a mutually agreed upon transfer date to be specified in the purchase-and-sale agreement,”
Interactive said.

The final bid date is Dec. 17.

Interactive operates online at www.interactivemortgageadvisors.com and can be reached at 303.830.0377 or [email protected].

Related Posts

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming paperwork has been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and furniture need to...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand-new mortgage loan can be a difficult task, especially for first-time homeowners.   After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first...

Newsletter

Don’t worry, we don’t spam