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