MIAC Handling Sale of $7.1 Billion Mortgage Servicing Portfolio

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Mortgage Industry Advisory Corp. is facilitating the sale of a $7.14 billion Fannie Mae/Ginnie Mae mortgage servicing portfolio.

The portfolio has a West Coast concentration and the average loan size is $275,924.

About 88% of the portfolio is Fannie Mae A/A; 5.6% is Fannie Mae MBS; and 5.94% is Ginnie Mae II.

It has a weighted average interest rate of 3.789%, a weighted average delinquency rate of 0.94%; a weighted average loan Age of 24 months; and a weighted average FICO of 743.

Bids are due by Nov. 28.

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