Florida Servicing Rights for Sale

Published May 23, 2005, 2:00 p.m. EDT

1 Min Read

The Prestwick Mortgage Group, Alexandria, Va., is brokering the sale of servicing rights on $214 million of Fannie Mae and Freddie Mac loans from Florida.The portfolio has a weighted average note rate of 5.975% and a weighted average servicing fee of 0.2577%, Prestwick reported. The average loan balance is $126,026, with 25 months of weighted average seasoning. The vast majority of the loans were retail-originated and are backed by Florida homes. The bid deadline is Thursday, May 26.

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