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According to IMA, the seller also would like to enter into a forward monthly flow relationship selling $5 to $25 million per month co-issue servicing.
The $102.9 million portfolio has a 3.945% weighted average note rate, a $247,429 average loan balance, less than 1% delinquencies, nine months of seasoning, and a weighted average Fair Issac & Co. credit score of 720.
Prospective purchasers must be approved Fannie Mae servicers or have a structure in place with one who can take ownership and service on their behalf.
