Out of Colorado, brokerage Interactive Mortgage Advisors [1] announced two separate mortgage servicing rights (MSR) offerings totaling a combined $583.6 million.
The first portfolio, valued at $89.7 million, is made up of Fannie Mae, Freddie Mac, and Ginnie Mae loans that are five months seasoned. The loans included have a weighted average note rate of 3.81 percent, a weighted average FICO score of 722, and are concentrated in Utah and Colorado.
Cenlar FSB [2] is the subservicer for the portfolio.
“This offering provides an excellent opportunity for smaller purchasers to participate in the MSR market,” said Thomas Piercy, managing member of Interactive Mortgage Advisors.
“This is high quality, low interest rate MSRs from a highly reputable mortgage banking company,” he continued, adding, “The Seller is an independent mortgage company with strong financials and solid reputation.”
Written bids for the portfolio are due April 2 by 2 p.m. Eastern.
The other portfolio, a $493.9 million bulk Ginnie Mae offering, is made up entirely of recently originated Veterans Affairs loans with a 2.51 percent weighted average note rate and a wide geographic dispersion. Ocwen [3] is the subservicer.
“The Seller’s experience in this origination market has created historically well-performing servicing and provided good returns on investment to prior purchasers,” Piercy noted.
Bids for that offering are due April 3 by 2 p.m. Eastern.