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Prestwick Selling $128MM of Freddie MSRs

Published April 11, 2012 2:58 PM EDT 1 Min Read

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 average note rate of 4.6% and delinquencies of 1.2%. The underlying loans were funded through retail means. The average loan size is $91,673.

Prestwick is based in Alexandria, Va.

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