Servicing rights on more than $3 billion in agency loans are being auctioned off. A majority of the portfolio is government mortgages, and there is a Southeast concentration.
The offering is for mortgage-servicing rights on 17,973 fixed-rate, first-lien mortgages that had a collective unpaid principal balance of $3.173 billion as of July 31.
Ginnie Mae II mortgages account for 12,194 loans for $2.285 billion, Fannie Mae A/A loans make up 5,694 units for $0.869 billion, and there are just 85 Fannie Mae MRS loans for $0.019 billion.
Source: Mortgage Daily