An offering of mortgage servicing rights is being made on more than $1.8 billion in Ginnie Mae loans. The pool has a concentration of loans in the Golden State.
The proposed transaction includes MSRs on 7,237 GNMA II residential loans that had a collective outstanding principal balance of $1.819 billion as of Nov. 9.
Just over a third of the loans included in the offering are secured by properties located in California. All other states have less than a 10 percent market share.
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From:: Financing