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A sizable new portfolio of agency mortgage servicing rights (MSR) has come to market with days left to go before bidding ends.
The newest offering is a Fannie Mae, Freddie Mac, and Ginnie Mae MSR portfolio with $736 million of unpaid principal balance, according to an announcement from MountainView Servicing Group, which is acting as adviser on the sale.
Quality features of the bulk portfolio include 99 percent fixed-rate and 100 percent first-lien product, MountainView said in its announcement. The offering's weighted average original FICO score is 762, the weighted average original loan-to-value ratio is 66 percent, and the weighted average interest rate is 3.94 percent.
Most of the portfolio—89 percent of the packaged loans—is concentrated in California. The portfolio's average loan size is $332,159.
The portfolio is being offered with full representations and warranties from the seller, which is seeking a sale date no later than March 31. Bids are due February 12.
