The Prestwick Mortgage Group, Alexandria, Va., is brokering the sale of mortgage servicing rights on a $1.8 billion portfolio of Fannie Mae and Freddie Mac loans.The weighted average note rate is 5.664%, and the weighted average servicing fee is 0.3869%. The portfolio has 33 months of weighted average seasoning and a 1.86% delinquency rate, including foreclosures. The vast majority of the loans, 88.3%, are backed by homes in North Carolina, with most of the rest coming from Virginia, South Carolina, or Georgia. The seller is a Southeastern bank. The bid deadline is April 26.
$1.8B MSR Portfolio for Sale
April 19, 2006, 2:00 p.m. EDT 1 Min Read
