301 Million Dollar Fannie Mae Bulk Servicing Portfolio Hits Market

Dated: 10/02/2015

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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

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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....

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