The Prestwick Mortgage Group is brokering the sale of mortgage servicing rights on $72 million of Freddie Mac loans backed primarily by homes in Utah.The weighted average note rate is 5.721%, and the weighted average servicing fee is 25 basis points, Prestwick said. The fixed-rate portfolio has an average loan balance of $107,392. About 17% of the loans are balloon payment products. The weighted average seasoning is 53 months, and the portfolio has a 1.04% delinquency rate. Prestwick said the seller is a bank. Bids are due July 19.
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