Mortgage Industry Advisory Corp. (MIAC) is handling the sale of a government/agency mortgage servicing rights portfolio with about $2.1 billion in unpaid principal balance.
The MSR portfolio is being offered by a mortgage company that originates loans with a national footprint. It is comprised of 57.87% Ginnie Mae loans, 28.34% Freddie Mac loans and 13.79% Fannie Mae loans. All are fixed-rate.
The average loan size is $149,229. The weighted average interest rate is 3.590%. The weighted average delinquency rate is 6.16%. The weighted average loan age is 36 months. The weighted average FICO score is 712.
About 36% of there loans were originated via retail channels, while 42% were originated via broker and 22% via correspondent channels.
