Incenter Mortgage Brokers $919M Ginnie Mae MSR Sale

An undisclosed independent mortgage banker is selling a $918.6 million Ginnie Mae bulk residential mortgage servicing rights portfolio.

The deal is being brokered by Incenter Mortgage Advisors in St. Paul, Minn. Bids for the portfolio are due by June 2. The portfolio includes 4,738 loans, more than half of which are in Texas. The average loan size is $193,883.

The portfolio has an average seasoning of 19.5 months and carries 175 delinquencies, or about 3.69% of total loans in the portfolio. Less than 1% of the loans have foreclosures or bankruptcies.

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