MIAC Handling Sale of $315M Mortgage Servicing Portfolio

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Mortgage Industry Advisory Corp. (MIAC) is facilitating the sale of a $315.25 million Ginnie Mae, Fannie Mae and Freddie Mac mortgage servicing portfolio with a California concentration.

About 44% of the portfolio is Fannie Mae A/A while 30% is Ginnie Mae II and 26% is Freddie Mac Gold.

The average loan size is $271,536. The weighted average interest rate is 5.145%. The weighted average delinquency rate is 2.33%. The weighted average loan age is 4 months. The weighted average FICO is 702.

Bids are due March 14.

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