Mortgage Industry Advisory Corp. (MIAC) is handling the sale of an agency mortgage servicing portfoliio with unpaid principal balance of about $570 million.
More than 99% of the loans in the portfolio are performing and most are collateralized by properties in Ohio, West Virginia and Kentucky. The seller will be providing full representations and warranties for the loans included in this offering.
The average loan size is $109,365. About 99% of the loans are fixed rate with a weighted average interest rate of 3.979%. The average delinquency rate is about 0.65% and the weighted average loan age is 48 months. The weighted average FICO score is 747.
