Standard Pacific Mortgage Inc. is looking to sell $70 million per month of Fannie Mae and Ginnie Mae flow mortgage servicing rights. The broker for this offering is
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SPM said the share of Fannie Mae MSRs is 60% and Ginnie Mae 40%. The company is affiliated with a homebuilder whose primary concentration is in California, Texas, Florida and North Carolina.
The MSRs come entirely from retail originations, with the average loan balance on the Fannie Mae portion greater than $290,000 and the Ginnie Mae portion $300,000.
The weighted average credit score for the Ginnie Mae loans is over 700.
Written bids need to be emailed by June 6 at 2 p.m. eastern time.
