Nearly $300M MSR offering hits the market

MIAC Analytics is marketing a large mortgage servicing rights portfolio on behalf of a lender with a big book of business in California.

The portfolio consists of $292.91 million in Fannie Mae, Freddie Mac and Ginnie Mae servicing rights. The seller will be providing full representations and warranties on the portfolio, which has an average loan size of $343,383. Roughly 42% of the portfolio consists of Fannie Mae mortgages, 28% Freddie Mac mortgages and 29% Ginnie Mae mortgages.

The weighted average interest rate is 7.013% with an average delinquency rate of 2.93%. The average loan has seasoned for five months and has a weighted average FICO score of 744.

More than half of second-quarter bulk MSR acquisitions were attributable to Mr. Cooper Group and Lakeview Loan Servicing, according to Inside Mortgage Finance.