© 2026 Arizent. All rights reserved.

RMBS

Prestwick Floats $406MM MSR Package

Published 1 Min Read

The Prestwick Mortgage Group is selling a $406 million package of Ginnie Mae mortgage servicing rights for an undisclosed mortgage banking firm.

According to the offering circular, the portfolio has a 12.6% delinquency rate and is top heavy in product from Florida, California, and Indiana.

However, in total 22 states are represented in the offering.

The MSRs have a weighted average note rate of 5.247% and a servicing fee of 34 basis points. The bid deadline is Nov. 17.

Prestwick is based in Alexandria, Va.

For reprint and licensing requests for this article, click here.

More From Asset Securitization Report

Megabanks Suffer MSR Markdowns

It stands to reason that with delinquencies falling and home values firming up that mortgage servicing rights are poised for a handsome increase in value. But judging from the latest earnings statements from the nation’s megabanks, nothing could be farther from the truth. According to an analysis conducted by National Mortgage News, the nation’s largest […]

Prestwick Selling $58 Million of MSRs

The Prestwick Mortgage Group is marketing a $58 million package of mortgage servicing rights backed by mostly multifamily commercial mortgages held by private investors. According to the company’s offering circular, there is no buyback risk whatsoever on the portfolio – and there are no delinquencies as well. All of the underlying properties are located in […]

BofA Unloads Two Large MSR Packages

Bank of America (BofA) over the past two weeks has unloaded roughly $12.4 billion of legacy mortgage servicing rights, selling most of it to Nationstar Mortgage, Lewisville, Texas. Nationstar will acquire $10.4 billion of GSE-related MSRs for an undisclosed price, partnering with Newcastle Investment Corp., on the deal. According to a statement issued by Nationstar, […]

Prestwick Selling $128MM of Freddie MSRs

The Prestwick Mortgage Group is offering $128 million of Freddie Mac mortgage servicing rights and hopes to complete the auction by the end of next week. The seller has been identified in documents as being a national bank. As a policy Prestwick does not disclose the names of its clients. The MSRs have a weighted […]

IMA Selling Small Bulk MSR Portfolio

Interactive Mortgage Advisors (IMA), Denver, is auctioning off a $57 million portfolio of bulk servicing rights for an undisclosed seller. The MSRs are tied to Fannie Mae loans originated in California. According to an offering circular issued by IMA, the product is relatively new (six months of seasoning) and is skewed toward fixed-rate loans. The […]