IMA Brokering Sale of $1.1B in Bulk Ginnie/Fannie MSRs

Interactive Mortgage Advisors, as exclusive broker for an unnamed seller, is putting up for bid $1.1 billion Ginnie Mae/Fannie Mae bulk residential mortgage servicing rights with interest in establishing a co-issue flow relationship that will deliver $25 million to $50 million in Ginnie MSRs over the next 12 months.

The total potential deal commitment including the flow relationship is more than $1.7 billion.

The 61% Ginnie/39% Fannie bulk MSRs being sold by what IMA said is an independent mortgage company with strong financials and solid reputation has a 3.818% weighted average note rate and a Midwest concentration.

The weighted average loan age is 13 months and the MSRs have a total delinquency rate of 3.27% with foreclosures/bankruptcies representing 0.67% of the loans. The weighted average original terms of the loan are 316.4 months and the weighted average remaining term is 303.4 months.

Qualified bidders should place written bids by noon Mountain time or 2 p.m. during the East Coast trading day on Oct. 3.