Mortgage Industry Advisory Corp. (MIAC) is facilitating the sale of a portfolio of performing agency/government mortgage loans with unpaid principal balance of about $2.24 billion.
About 19.44% of the portfolio is Freddie Mac loans. About 14.53% is Fannie Mae A/A loans and about 10.19% is Fannie Mae MBS loans. About 55.57% of the portfolio is Ginnie Mae II loans while about 0.27% is Ginnie Mae I loans, MIAC says in a release.
The portfolio is being offered by a mortgage company that originates loans with a national footprint. The seller will be providing full representations and warranties.
The average loan size is $176,202 and 100% of the loans are fixed rate. The weighted average interest rate is 4.144%. The weighted average delinquency rate is 5.68%.
The average loan age is 22 months.
The weighted average FICO score is 691.