New York-based Mortgage Industry Advisory Corporation [1] (MIAC) announced the offering of a new $50 million per month mortgage servicing flow portfolio.
The portfolio, which is made up of more than two-thirds Ginnie Mae and nearly one-third Fannie Mae loans, is being offered by a "well capitalized mortgage company that originates nationally," said MIAC, which is acting as the seller's exclusive representative on the offering. The seller will provide full representations and warranties for the loans included.
According to the company, the portfolio is made up of 97.68 percent fixed-rate loans with an average escrow balance of $2,239 and an average loan size of $202,629.
The distribution of the portfolio is national.
The bid date is September 24, MIAC announced. Loan level data is available to pre-qualified buyers.