Interactive Mortgage Advisors, Denver, is selling a $334 million package of mortgage servicing rights tied to Government National Mortgage Association loans. The identity of the seller was not disclosed.
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The servicing fee on the receivables is 40 basis points. The package has a weighted average coupon of 5.3%, an average age of 11 months, and less than 4% delinquencies, including foreclosures.
The rights are backed mostly by loans originated in the Northeast, though it includes a handful of mortgages from Florida, South Carolina, and Indiana.
A majority of the mortgages are on single-family units, though some condos, and two-family structures are represented. The bid deadline is Feb. 15.
