IMA Offering $140 Million Bulk MSR Deal

Interactive Mortgage Advisors is offering to qualifying buyers on behalf of an unnamed seller another package of mortgage servicing rights, this time a $140 million bulk deal containing MSRs from Ginnie Mae, Fannie Mae and Freddie Mac.

According to IMA, the seller in an independent mortgage banker “well versed in MSR sales” and the portfolio is subserviced by Cenlar. The seller represents 94% of the recently originated loans came through the wholesale channel and 6% came through the retail channel. The loan packaged has two 30-year delinquencies to date.

The two-pool portfolio has a 3.756% weighted average note rate, a $205,624 average loan balance and a geographic concentration in Utah.

While the seller is the counterparty for both pools, IMA said one of the pools “is a participation with a third party that requires separate accounting.”