Mortgage Industry Advisory Corporation (MIAC) is facilitating the sale of a $71 million pool of reperforming residential first lien whole loans that are being offered on an all-or-none basis, servicing-released.
About 75.5% of the loans in the portfolio are modified, with interest rates ranging from 2% to 11.5%, according to the company.
Properties securing the loans are concentrated in California, Florida, Illinois, New York and New Jersey.
The average unpaid principal balance is $229,856.
The aggregate loan-to-value is 70%, and the average FICO score is 608.
On average, the loans in the portfolio have been performing for 11.77 months.
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