Interactive Mortgage Advisors is offering servicers $481 million of Fannie Mae mortgage loans. Most of the loans in the offering are tied to properties located in the Southeast and Southwest. IMA is the exclusive broker for the transaction. The offering comes with a weighted average coupon rate of 4.56%, said Thomas Piercy, managing member of Interactive Mortgage Advisors. “That is an extremely attractive note rate relative to prepayment speeds, Piercy said. “If you have a note rate that is low, your prepayment speeds should be fairly low, so you will have an extended life on that asset and your cash flow should be strong.” The loans in the offering also have a five-month seasoning, which means these are fairly new loans closed only five months ago. Piercy said there’s also a higher chance of greater cash flow when gaining a loan at the beginning of its life cycle rather than later on, which makes the assets even more attractive. Write to Kerri Panchuk.
Kerri Ann Panchuk was the Online Editor of HousingWire.com, and regular contributor to HousingWire magazine. Kerri joined HousingWire as a Reporter in early 2011 and since earned a law degree from Southern Methodist University. She previously worked at the Dallas Business Journal.see full bio
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Kerri Ann Panchuk was the Online Editor of HousingWire.com, and regular contributor to HousingWire magazine. Kerri joined HousingWire as a Reporter in early 2011 and since earned a law degree from Southern Methodist University. She previously worked at the Dallas Business Journal.see full bio
