The seller also would like to establish a monthly co-issue flow relationship that will deliver $200 million to $400 million per month of comparable product over the next 12 months.
IMA described the seller as an independent mortgage banker with “strong financials and a solid reputation.”
The servicing rights are on loans with a 4.274% weighted average note rate, “geographic dispersion in quality states,” a 1.63% delinquency rate after 28 months of seasoning and a 763 weighted average FICO score.
Prospective buyers must be approved Fannie Mae servicer or have a structure in place with one who can take ownership and service on their behalf.
IMA said written bids should be emailed by 2 p.m. Eastern time on Aug. 6.
