MountainView Servicing Group, a subsidiary of ""MountainView Capital Holdings"":http://www.mvch.com, announced Monday that it will serve as the exclusive advisor for a $188 million ""Ginnie Mae"":http://www.ginniemae.gov servicing portfolio.
[IMAGE] The portfolio is comprised entirely of fixed-rate mortgage loans, 98.1 percent of which are Federal Housing Administration (FHA) loans, with 99.9 percent retail origination and a weighted average interest rate of 5.95 percent.
By buying the servicing package, the buyer will obtain exclusive rights to service $188 million in mortgage loans for Ginnie Mae.[COLUMN_BREAK]
""It is an attractive asset,"" according to Matt Maurer, VP of sales for MountainView. ""We're a relationship-driven company. People look to us when they're into buying and selling servicing rights.""
Maurer said that the servicing group will accept bids until noon EST on Friday, June 17. The seller prefers a July 29 sale date and maintains a flexible transfer date.
Most offerings that MountainView helps to facilitate fall into four categories, Maurer explained, including labels for Fannie Mae, Freddie Mac, Ginnie Mae, and private buyers and sellers.
MountainView Servicing Group has marketed and sold over $30 billion and $75 billion in mortgage servicing rights over the past 10 years. It supplies advisory services that value, sale, and help manage mortgage servicing rights. Clients include commercial banks, credit unions, mortgage companies, and thrifts.
Based in Colorado, its parent company, MountainView Capital Holdings, makes services available that include asset management, valuation, and risk management for companies with a clientele in mortgage and fixed-income capital markets.