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Investments / Lending / The Ticker

$500 million in MSRs hits the market

Fannie, Freddie and Ginnie all included

Pile of Money
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Interactive Mortgage Advisors announced that it is overseeing the sale of two portfolios of mortgage servicing rights totaling more than $500 million.

The larger of the two portfolios is a $493.9 million Ginnie Mae bulk MSR offering. The portfolio is 100% recently originated VA IRRL loans. “The Seller’s experience in this origination market has created historically well-performing servicing and provided good returns on investment to prior purchasers,” said Thomas Pierce, Managing Member of IMA.

The portfolio features loans from a wide geographic dispersion and with a 2.506% weighted average note rate. The loans are also 5 months seasoned and Ocwen Financial is the subservicer.

The deadline for bids on this portfolio is April 3 at 2:00 p.m. EDT.

The second portfolio is for $89.7 million Fannie Mae, Freddie Mac and Ginnie Mae bulk residential MSR offering. “This offering provides an excellent opportunity for smaller purchasers to participate in the MSR market,” Pierce said.  “This is high quality, low interest rate MSRs from a highly reputable mortgage banking company. The seller is an independent mortgage company with strong financials and solid reputation.”

This portfolio features loans concentrated in Utah and Colorado with a weighted average note rate of 3.807%. The loans also have a weighted average FICO score of 722 and are 5 months seasoned. The subservicer for these loans is Cenlar.

The deadline for bids on this portfolio is April 2 at 2:00 p.m. EDT.

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