Almost $300M MSR offering strikes the marketplace
MIAC Analytics is marketing a big home mortgage maintenance rights portfolio on behalf of a loan provider with a huge book of organization in California.
The portfolio includes $292.91 million in Fannie Mae, Freddie Mac and Ginnie Mae maintenance rights. The seller will be offering complete representations and service warranties on the portfolio, which has a typical loan size of $343,383. Approximately 42% of the portfolio includes Fannie Mae home mortgages, 28% Freddie Mac home loans and 29% Ginnie Mae home mortgages.
The weighted typical rate of interest is 7.013% with a typical delinquency rate of 2.93%. The typical loan has skilled for 5 months and has a weighted typical FICO rating of 744.
Over half of second-quarter bulk MSR acquisitions were attributable to Mr. Cooper Gr...