Incenter Mortgage Advisors is brokering the sale of an $8.9 billion Ginnie Mae bulk residential mortgage servicing rights portfolio.
The deal is being brokered on "behalf of a well-capitalized mortgage banking entity with an experienced senior management team and strong net worth," Incenter said in a news release Thursday. Bids for the portfolio are due by Aug. 22.
Incenter is accepting bids on the portfolio both as a whole or as two separate segments that are similar in size and attributes. The total combined portfolio has 60,477 loans, with an average loan size of nearly $147,000.
Overall, the entire portfolio has an average seasoning of 60 months and a delinquency rate of 5.9%. The weighted average coupon is 4.227%, which presents the buyer with a significant refinancing opportunity.
The first of the smaller segments being marketed, Portfolio A, has roughly $4.88 billion in unpaid principal balance and 32,834 loans. Its weighted average coupon is 4.166%, and 5.84% of the loans are 30 or more days delinquent. Additionally, 3.2% of the loans are in foreclosure or bankruptcy.
The other segment, Portfolio B, has $3.98 billion in unpaid principal balance and 27,613 loans. For this portfolio, the weighted average coupon is 4.302%, and the delinquency rate is 5.96%. The foreclosure and bankruptcy rate for this portfolio is 3.52%.
