Wednesday, November 30, 2011

MIAC Brokering Servicing Portfolio

MIAC Client Solutions Group, New York, has announced that it has been chosen to act as exclusive broker for the recently announced sale of a $632 Million FNMA Reverse Mortgage Servicing portfolio.

We're told by the company that the portfolio is being offered by a national financial institution with strong financials and an excellent counterparty risk profile. The underlying loans in the portfolio have the following characteristics:
  • $164,240 Average Loan Size
  • 100% FNMA Reverse Mortgage loans
  • 100% FHA Home Equity Conversion Mortgages (HECM)
  • Weighted average interest rate of 3.271%
  • Weighted average loan Age of 27 months
  • National geographic dispersion with concentrations in Florida and California
The bid date for the portfolio is December 8, 2011. Interested parties can sign up to review the portfolio details at www.MIACAnalytics.com or contact the following individuals for additional information: Dan Thomas, Managing Director at (212) 233-1250 Ext. 240 or Rob Fear, Director at (212) 233-1250 Ext. 230.

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