Interactive Mortgage Advisors LLC, Denver, is brokering for an unnamed seller
There are 1,031 Ginnie Mae loans and 617 Fannie Mae loans in the portfolio. It has a 4.154% weighted average note rate, 17 months seasoning and the top geographic concentration is in New York (48.8%), followed by Massachusetts (17%) and New Jersey (9%). The majority of the loans are no cash out refinances.
Data current as of May 31 show the portfolio has on a weighted average basis a 17.1 month age, a 4.154% interest rate, 0.2969% service fee, an original term of 337.6 months, and a remaining term of 320.5 months. The delinquency rate based on late payments of 30 days or more is 2.97%. Foreclosures/bankruptcies represent 1.45% of the portfolio.
The seller is described as an independent mortgage banker with strong financials and a solid reputation. Any prospective purchaser must be an approved Fannie Mae and Ginnie Mae Servicer or have a structure in place with an approved one who can take ownership and service on their behalf.
Written bids are due at noon Mountain time on Aug. 8.
