$8 Billion Ginnie Servicing Portfolio for Sale | CaliforniaRealtySite
Mortgage servicing rights on nearly $8 billion in mortgages backing
securities guaranteed by the Government National Mortgage Association
are on the market. The mostly adjustable-rate government loans are
concentrated in five states. While the average loan in the portfolio is
less than a year old, delinquency already exceeds 3.5 percent.
The $7.88 billion Ginnie Mae servicing portfolio is being offered by a mortgage firm that originates loans on a national basis.
Full representations and warranties are being provided on the loans included in the offering.
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