The Prestwick Mortgage Group is offering $128 million of Freddie Mac mortgage servicing rights and hopes to complete the auction by the end of next week.
The seller has been identified in documents as being a national bank. As a policy Prestwick does not disclose the names of its clients.
The MSRs have a weighted average note rate of 4.6% and delinquencies of 1.2%. The underlying loans were funded through retail means. The average loan size is $91,673.
Prestwick is based in Alexandria, Va.