According to IMA, the MSRs carry a low interest rate and have minimal seasoning. They have a 2.727% weighted average note rate, are 100% VA 3/1 adjustable-rate mortgages with 2% margins and have a weighted average age of less than 10 months.
Their average foreclosure loss to date is less than 13% of the unpaid principal balance after the payment of the VA claim.
Prospective buyers must be approved Ginnie Mae servicers or have a structure in place with an approved Ginnie Mae servicer who can take ownership and service on their behalf.
Written bids should be emailed by 2 p.m. Eastern Standard Time on May 15.
