Servicing is for sale on nearly $2 billion in residential loans that are included in Ginnie Mae mortgage-backed securities. A majority of the loans are in three states.
The bulk offering is for mortgage servicing rights on 188,284 Ginnie Mae mortgages that had an aggregate unpaid principal balance of $1.821 billion as of Sept. 30.
Properties with a Pennsylvania address secure more than 22 percent of the loans in the pool. Nearly 18 percent are in New Jersey, and almost 12 percent are in California.
Source: Mortgage Daily