MIAC Offering $315M Fannie Servicing Portfolio

Mortgage Industry Advisory Corp. as exclusive representative of an unnamed West Coast mortgage company is offering for sale another package of mortgage servicing rights, in this case a $315 million Fannie Mae portfolio with no delinquencies and a California concentration.

According to MIAC, the seller has a strong reputation for originating high-quality loans and will be providing full representations and warranties. The retail home loans that comprise the portfolio all have full documentation.

The portfolios average loan size is $254,172, its weighted average loan age is seven months and its weighted average interest rate is 3.793%.

Bids are due at 5 p.m. Eastern on Aug. 21.

Article source: http://www.nationalmortgagenews.com/dailybriefing/MIAC-Offering-Fannie-Servicing-Portfolio-1038090-1.html

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