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MSRs on Over $1 Bil in Ginnie Loans for Sale

Mortgage News

Bids are being taken for mortgage servicing rights on more than $1 billion in Government National Mortgage Association loans.

MSRs on 6,244 Ginnie Mae loans that had an aggregate unpaid
principal balance of $1.411 billion as of April 30 are up for auction.

Arizona is the location of the properties
that secure more than 11 percent of the loans. All other states have less than a 10 percent share.

The bulk offering was announced by Incenter Mortgage Advisors LLC, the
exclusive agent for the seller.

On a weighted-average basis, the interest rate is 3.572 percent, and the service fee is 0.331 percent, while the original term is 345.7 months, and the remaining term is 331.7 months.

All of the loans were originated through the retail channel.

The 30-day delinquency rate, including foreclosures and bankruptcies, is 3.12 percent.

The seller, “a well-capitalized, independent mortgage banker,”
wants to execute a purchase-and-sale agreement by June 30.

The final bid date is June 7.

Inquiries should be directed to Thomas M. Piercy at 303.302.9234 or [email protected].

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