WHITE PLAINS, N.Y. - Cohane Rafferty Securities LLC is the exclusive agent in the sale of servicing rights on $111 million of loans by a mortgage company in the Midwest.
The portfolio consists of servicing rights to $110 million of loans held by private investors; $751,000 of Fannie Mae loans; and $312,000 of Ginnie Mae loans.
The private loan portion has an average interest rate of 8.27% and pays an average servicing fee of 56 basis points.
The largest concentration of loans in the portfolio - 27.8% - is secured by homes in California.
Bids are due at Cohane Rafferty by 5 p.m. eastern time Sept. 19.