MIAC Handling Sale Of MSR Portfolio Valued Around $3 Billion

Mortgage Industry Advisory Corp. (MIAC) is handling the sale of a portfolio of mortgage servicing rights (MSRs) valued at around $3 billion.

The geographically dispersed portfolio comprises 14.12% Fannie Mae A/A loans; 33.19% Fannie Mae mortgage-backed securities, 17.55% Ginnie Mae I and 35.14% Ginnie Mae II loans. About 95% of the portfolio is fixed loans while the remainder is hybrid loans.

The average loan size is $170,406. The weighted average interest rate on these loans is 4.254%. The weighted average delinquency rate is 11.61%.

The average age of the loans is 35 months. MIAC's release does not indicate a date range for when the loans were originated.

About 21% of the portfolio is retail loans while 79% is wholesale.

About 78% is refinances while about 22% is purchase loans.

Bids are due July 14.

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