Midwest Servicing Portfolio for Sale

Published May 18, 2005, 2:00 p.m. EDT

1 Min Read

The Prestwick Mortgage Group, Alexandria, Va., is brokering the sale of servicing rights on a $104 million portfolio of Fannie Mae mortgage loans from the Midwest.The weighted average note rate is 5.578, and the weighted average servicing fee is 0.3579%, the company said. The average loan balance is $90,714, with 32 months of weighted average seasoning. Approximately 75.9% of the loans are on properties in Ohio or Indiana. The seller is a bank-affiliated mortgage company. The bid deadline is May 25.

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