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Asset Sales

Mortgage Servicing Rights Sales

Contact Asset Marketing

AssetMarketing@fdic.gov
(800) 568-9161

Asset Sales Events

View FDIC sales events in the Asset Sales Event Calendar

View Asset Sale Calendar

Financial Professionals Call Center

Mortgage Servicing Rights (MSRs) are assets on the books of the failed institution with responsibilities to administer and manage mortgage loan portfolios owned by others—typically single-family residential loans—in exchange for a servicing fee.

An auction sale is a primary disposition strategy utilized by the FDIC to sell MSRs. MSR auctions are typically marketed on a competitive, sealed-bid basis.

 

 

 

Mortgage Servicing Rights Sales Event(s)

DescriptionDate(s)Location
There are no mortgage servicing rights sales event announcements at this time.

Frequently Asked Questions

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Questions and Answers
What types of MSRs does the FDIC sell?

The most common MSRs relate to SFR loans originated or purchased by the failed institution and sold, servicing retained, to the Government Sponsored Enterprises (GSEs) such as Fannie Mae and Freddie Mac or included in a mortgage-backed securitization guaranteed by Ginnie Mae. MSRs that relate to SFR loans held by private investors or backing private-label securitizations are not as common.

 
How can I receive notification of MSR sales?

Parties interested in participating in MSR sales may request that they be included on a list of prospective bidders to receive sale announcements. Prospective bidders may provide contact and investor status information and identify the types of financial assets, including MSRs, they are interested in purchasing by completing the Prospective Bidder Information form and delivering the completed form electronically to: prospectivepurchaser@fdic.gov. Prospective bidders that submit the form will be included on a list to receive sale announcements that match their expressed interests.

 
Who can buy MSRs?

Prospective bidders must demonstrate the ability to service loans in accordance with mortgage industry standards. Generally, only mortgage originators and servicers, financial institutions, and institutional investors with experience and access to sophisticated mortgage servicing platforms are eligible to purchase MSRs. In addition, many investors—including the GSEs and Ginnie Mae—will require the purchaser to meet investor approval requirements.

Eligible bidders must be qualified prior to receiving information regarding MSRs offered for sale.

How can I become a qualified bidder?

Prospective bidders will be required to meet transaction-specific qualification criteria. As a general matter, the transaction-specific qualification process will require prospective bidders to complete, to the satisfaction of the FDIC, and return the following executed documents:

 

The FDIC also runs a search with the Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury on potential qualified bidders prior to bid sheet distribution.

Note: In addition to bidder qualification documentation required by the FDIC, investor-specific requirement and approvals may also apply.

How are MSR sales advertised?

MSR sales are generally advertised through direct and digital solicitation of current and previously qualified bidders through contacts maintained by the FDIC and, if contracted to assist with the sale, investor lists maintained by a financial advisor.

Depending on the type of portfolio and the timing, a sale may also be advertised through media outlets and on FDIC.gov.

 

What is the auction sale process?

 

  • Potential bidders are solicited directly or through public announcement.
  • Interested bidders are qualified (e.g. Confidentiality Agreement, Qualification Request, PEC, OFAC certification).
  • Upon receipt of an earnest money deposit, qualified bidders are provided access to due diligence material approximately 30 days in advance of the auction bid date.
  • During the due diligence process, bidders are reviewed by the investor including the GSEs and Ginnie Mae, if investor approval is required.
  • Bids are reviewed and the winning bidder is typically confirmed via phone and email.
  • Transaction closing documents are typically executed within 2 weeks of bid date, and servicing transferred within 30 days.


 

Is a deposit required to bid?

Yes, an earnest money deposit is typically required from each qualified bidder to access due diligence materials and bid.

 

Where can I find a listing of historical sales?
 

Historical sales can be found on FDIC.gov through the following link: Mortgage Servicing Rights (MSR) Sales

Last Updated: June 7, 2024