Bidding is set for 5 p.m. on Feb. 11.
According to MIAC, the seller is offering a full set of representations and warranties for the loan included in the offering, which have a $270,932 average size, a weighted average loan age of four months, are 100% fully documented, almost 100% fixed rate, and have about a 3.77% weighted average interest rate.
The portfolio, which has about a 78% concentration in Ginnie Mae II loans and a geographic concentration in California, also has a 2.79% weighted average delinquency rate. Close to 63% of the loans are wholesale originations. The originator sourced the remainder through the retail channel.