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MountainView Unloads $487M in Fannie Mae MSRs

""MountainView Servicing Group"":http://www.mvch.com/ announced Monday that it completed the sale of three bulk packages of mortgage servicing rights for ""Fannie Mae"":http://www.fanniemae.com/portal/index.html loans.


The Denver-based subsidiary of MountainView Capital Holdings completed the sale on July 31. All packages were sold without bifurcation of seller and servicer representations and warranties.

The three packages had a combined unpaid principal balance of $487 million and contained mostly conventional fixed-rate product secured by properties located across the country. Additionally, most were newer origination, with the average age being under three months.

""Several mortgage banks are selling recently originated mortgage servicing rights at levels above AOT pricing and at or near net Fannie Mae bifurcated co-issue pricing,"" said ""Matt Maurer"":http://www.linkedin.com/pub/dir/Matthew/Maurer, managing director at MountainView Servicing. ""By selling on a non-bifurcated basis, the sellers are able to reduce the size of their Fannie Mae sold portfolio, which in turn allows them to deliver more loans to Fannie Mae.""

""Our sellers have been able to better their all-in loan execution, better their turn times and become less reliant on the large aggregators,"" said managing director Robert Wellerstein. ""And our buyer is still looking for another partner or two who will sell packages of Fannie Mae or Freddie Mac MSRs on a monthly, bi-monthly or quarterly bulk basis.""

In the first seven months of the year, MountainView has advised on 24 mortgage servicing rights transactions involving packages with approximately $47.5 billion total in unpaid principal balance. The company is scheduled to complete two similar servicing deals on August 31 for a combined unpaid principal balance of approximately $750 million.

MountainView Servicing Group advises independent mortgage companies, commercial banks, thrifts, credit unions, and special servicers on the trading, valuation, and overall management of their residential mortgage servicing rights.


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