Mortgage Industry Advisory Corp. (MIAC) is handling the sale of a mortgage servicing rights (MSR) portfolio with unpaid principle balance of about $366.92 million.
The portfolio of Fannie Mae and Freddie Mac loans is being offered by a mortgage company that originates loans with a New England concentration.
The seller will be providing full representations and warranties.
About 68% of the portfolio is Freddie Mac loans while about 32% is Fannie Mae.
As per a company press release, 99.9% of the loans are fixed-rate while about .10% are adjustable rate.
The average loan size is $176,064. The weighted average interest rate is 4.016%. The weighted average delinquency rate is 0.77%.
The weighted average loan age is 14 months. The weighted average origination loan-to-value (LTV) ratio is 77.90%. The weighted average combined LTV (CLTV) is 75.88%.
The weighted average FICO score is 747.
About 99% of the loans were originated via retail channels.
Bids for this MSR portfolio are due June 21.
MIAC is also handling the sale of a MSR portfolio with unpaid principle balance of about $774.8 million that is being offered by a mortgage company that originates loans with a California concentration.
This portfolio consists of 100% fixed-rate loans, 92% of which are Fannie Mae (A/A) and 8% of which are Freddie Mac (Gold). The average loan size is $238,474 and the weighted average interest rate is 4.001%.
The weighted average loan age is 33 months. The weighted average origination LTV is 71.32%; the weighted average CLTV is 66.02%.
The weighted average score FICO is 745. About 45% of the loans were originated via retail channels while about 55% were originated via wholesale.
Bids for this MSR portfolio are due June 20.
As previously covered on MortgageOrb, MIAC is also facilitating the sale of $1.27 billion Ginnie Mae, Fannie Mae, and Freddie Mac MSR portfolio that is being offered by a mortgage company that originates loans with a West Coast concentration.
Bids for this offering are due June 18.
