Interactive Mortgage Advisors is brokering the sale of $10.7 billion worth of Ginnie Mae bulk residential mortgage servicing rights to the public.
This offering provides the option to purchase a substantial amount of quality, low interest rate with minimal seasoning MSRs, which are not typically offered, according to Tom Piercy, managing member of Interactive Mortgage Advisors. The firm itself is representing the seller.
The portfolio includes more than 62,000 loans with the average foreclosure loss to date less than 13% of unpaid principal balance after payment of Veteran Affairs Claims.
Additionally, the portfolio includes 2.73% weighted average note rates of less than 10 months.
Any prospective purchaser must be an approved Ginnie Mae servicer or have a structure in place with an approved Ginnie Mae servicer that can take ownership and service the assets.