301 Million Dollar Fannie Mae Bulk Servicing Portfolio Hits Market

Dated: 10/02/2015

Views: 550


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

How To Stave Off An Infestation

That lone ant roaming the kitchen counter may not seem like a big deal. Maybe it's even kind of cute. But think again.A few random ants can actually mean a major problem if not treated at the:

Read More

8 Outdoor DIY Projects That Will Add Serious Charm To Your Yard This Summer

With your backyard being the new summer hangout, it’s about time to spruce it up. But what if your budget is already stretched tight?Well, if you don't mind getting your hands a bit dirty, we've

Read More

How To Look Up The History Of Your Home

The anxiety of buying a new home can form in any number of ways, and you might find yourself questioning the property you’ve chosen: Is the backyard really that small? Is the soil contaminated

Read More

3 MoneySaving LastMinute Tax Tips For Homeowners

It's heeeere: tax time.Granted, this year, the coronavirus pandemic prompted the Internal Revenue Service to extend the usual April 15 deadline to July 15. That might have seemed like plenty of

Read More