Incenter Mortgage Advisors to market a $ 6.3 billion package of service rights
Offered on behalf of an undisclosed independent mortgage lender, the bulk package is related to personal loans bought by state-sponsored companies Fannie Mae and Freddie Mac.
The relatively large deal reflects a recent surge in MSR market activity, fueled by relatively higher interest rates as Federal Reserve officials raised concerns about inflation that could lead them to tighten monetary policy. When interest rates rise, some lenders try to keep services more than natural hedge against declining origination profits, while others sell them to raise cash when their margins decline.
Other weighted averages for the bulk portfolio currently for sale include a coupon of 2.94% and a credit score of 768. The average loan amount associated with the package is $ 319,889. None of the loans are overdue or in foreclosure. The estimated 12-month trust amount as a percentage of the capital is 0.70%.
The greatest geographic concentration is in Texas, which is home to more than a third of the properties that secure the relevant mortgage, based on the number and size of loans. Additional double-digit concentrations can be found in Washington (16.7% based on current balance, 12.8% based on number of loans) and Colorado (15.3% and 14.9%, respectively).
Bids must be emailed to IMA by 2:00 p.m. Mountain time on December 1st.