According to IMA, the seller in an independent mortgage banker “well versed in MSR sales” and the portfolio is subserviced by Cenlar. The seller represents 94% of the recently originated loans came through the wholesale channel and 6% came through the retail channel. The loan packaged has two 30-year delinquencies to date.
The two-pool portfolio has a 3.756% weighted average note rate, a $205,624 average loan balance and a geographic concentration in Utah.
While the seller is the counterparty for both pools, IMA said one of the pools “is a participation with a third party that requires separate accounting.”