Nearly $7 billion in mortgage servicing rights up for auction

A $6.9 billion portfolio of mortgage servicing rights concentrated in California and Colorado was put up for tender through Incenter.

Here are the weighted average MSRs for government-sponsored corporate backed loans in 2020 and 2021: 0.25% service charge, age 20 months.

Relatively low coupons offer a little more Prepayment protection Tom Piercy, president of state-owned business development at Incenter LLC, said it’s better than servicing from a recently launched loan.

“WAC is below 3.20%, which is not the case these days,” Piercy said in an email. “Deals above 3.50% are being offered as interest rate banks are being expanded by sellers with rising interest rates. These higher interest rates are still insulated against refinancing in this market, but the interest rate Creates a slightly greater risk when the starts.Move down.”

Sellers have purchased MSRs in bulk through joint issuing channels and are currently selling a portion of their portfolio. Three-quarters of his MSRs put up for sale were provided through bulk channels.

Over 1.1% of the loans in the portfolio offered by Incenter are delinquent Based on number of units. The largest share (0.74%) is 30 days late in payment, followed by 0.20% he who is over 90 days. The remaining 0.16% belong to the 60-day category. Foreclosure Or bankruptcy affects another 0.10% of loans.

Nearly 29% of the outstanding principal balance of the portfolio is in the golden state. The remaining 23% are in the Centennial State. The remaining top five states are: Texas 7.4%. Washington, 6%. Indiana, 4.8%.

Fannie Mae backs the majority of the loans, making payments from borrowers to investors in mortgage securitizations on a real/real basis. The rest are Freddie Mac-backed mortgages in accelerated remittance cycles. Information about all loans is available through the Mortgage Electronic Registration System platform.

The seller, an unnamed mortgage bank, wants a December 31st sale date. Written bids close on November 17th at 2:00pm Mountain Time.

listed companies such as Mr Coopernoted in a recent investor call that a wave of MSR sales from mortgage banks is expected.

Piercy, who is also managing director of Incenter Mortgage Advisors, said:

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