Servicing

$669 million Fannie, Ginnie portfolio sale hits market

Mortgage Industry Advisory Corp. is overseeing the sale of a $669.22 million Fannie Mae and Ginnie Mae mortgage-servicing portfolio, the company announced Friday.

The offering includes a portfolio of loans, with most of the related properties spread across the Northeast.

The portfolio features an average loan size of $185,071 and 100% fixed-rate loans.

It also includes a weighted average delinquency rate of 2.27%, a weighted average interest rate of 3.933% and is geographically concentrated in New York.  

Bids for the portfolio are due on Jan. 30.

This follows a $1.26 million Fannie Mae mortgage-servicing portfolio transaction announced on Thursday

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