A small portfolio of reperforming residential loans that have a big share of modified loans and a geographic concentration in four large states is being offered for sale.

Approximately 117 reperforming first-lien mortgages that have an aggregate unpaid principal balance of $23 million are included in the offering.

On a weighted-average basis, the coupon rate is 4.353 percent, the loan-to-value ratio is 75 percent, and the FICO score is 586.

Source: Mortgage Daily