Buyers looking to get their hands on some Fannie Mae and Freddie Mac mortgage servicing rights have that opportunity, as a $6 billion bulk residential mortgage servicing rights portfolio that features loans backed by Fannie Mae and Freddie Mac is available for sale.
According to Interactive Mortgage Advisors, which is acting the exclusive broker for the deal, the seller is a well-capitalized, independent mortgage banker with strong, experienced senior management that is well-versed in servicing transfers.
IMA said that the portfolio features a weighted average coupon rate of 3.977% and the portfolio is geographically diverse.
IMA said that the portfolio also carries no delinquencies and the underlying loans have an average balance of $217,505.
Additionally, IMA said that the seller will provide “aggressive” subservicing terms for potential buyers who want to leave the portfolio on the seller’s platform.
According to IMA, bids are due on Thursday, Dec. 17.