The Prestwick Mortgage Group, Alexandria, Va., said it is exclusively brokering on behalf of an unnamed seller a $154 million portfolio of
Based on data current as of June 30, loans backing the portfolio have an average $152,079 average unpaid principal balance with about 43.9% of the pool secured by properties in Texas, 9.9% in Oklahoma, and 13.9% in Indiana. According to Prestwick, the seller is an experienced residential lender/servicer and the pool is nationally distributed.
The majority of loans are secured by 30-year FHA loans used for the purchase of single-family detached properties. There are no loans originated through the FHA’s 203(K) program in the portfolio and all loans are registered with MERS.
The portfolio has a 671.77 weighted average Fair Isaac & Co. credit score, a 3.691% weighted average note rate, a 0.2728% weighted average net service fee, a 4.58% delinquency ratio for based on delinquencies of 30 days or more, including foreclosures.
Prestwick is accepting written bids through 5 p.m. Eastern on Aug. 13.
