301 Million Dollar Fannie Mae Bulk Servicing Portfolio Hits Market

Dated: 10/02/2015

Views: 546


Buyers looking to get their hands on some Fannie Maeservicing have that opportunity, as Interactive Mortgage Advisors announced that it is acting as the exclusive broker for a $301 million Fannie Mae bulk residential mortgage servicing rights offering.


According to Interactive Mortgage Advisors, the portfolio features servicing on 1,893 loans, with an average loan balance of $159,104.


The weighted average interest rate is 4.15% and the loans are 35.1 months seasoned on average. The loans are also 100% current.


Interactive Mortgage Advisors is presenting the offering on behalf of a well-capitalized, independent mortgage banker from the Midwest.  


More than 92% of the loans are located in the Midwest, IMA said in its presale documentation.


According to IMA, more than 53% of the underlying loans are located in Michigan, while nearly 30% are located in Minnesota, making up more than 80% of the total portfolio.


Bids on the portfolio are due on Thursday, Oct. 8.


Source

Blog author image

Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

Latest Blog Posts

Americans Are Still Moving

Next week, Daryl and Kathy Storment will be moving about 300 miles west from their home in Eastern Washington, a rural area known for rolling hills and big fields—toward the center of the country

Read More

How Record Unemployment Claims Will Affect The Housing Market

As businesses across the United States have been mandated to close their doors in a desperate effort to slow the spread of COVID-19, people have been losing their jobs left and right. Now, we're

Read More

The Coronavirus Could Hit Mom And Pop Landlords Hard As Tenants Miss Rent Payments

With April 1 right around the corner, residential landlords across the country are waiting to see how bad of a hit they’ll be taking from the coronavirus pandemic.Millions of Americans have lost

Read More

Mortgage Industry Lays Out Its Case For Widespread Coronavirus Emergency Relief

The mortgage industry’s biggest trade and lobbying groups are banding together to push the federal government for widespread relief for all borrowers affected by the coronavirus outbreak in the U.

Read More