Interactive Mortgage Advisors (IMA) Denver, is selling a $589 million portfolio of residential servicing rights backed by Fannie Mae and Ginnie Mae mortgages.
The MSR package has a yield of 5.04%, but also carries a 8.67% delinquency rate, plus foreclosures of 3.37%.
The underlying collateral is spread across 41 states with Texas accounting for the largest chunk at 17%.
The seller's name was not disclosed. IMA hopes to close the deal by the end of February.
The broker will consider separate bids for just the GNMA portion ($461 million) or the Fannie Mae piece.