$3 Billion MSR Portfolio Up For Bid

Residential mortgage servicing rights (MSR) sales and valuation advisory services provider MountainView Servicing Group announced Thursday that it is acting as adviser for the sale of a Fannie Mae and Freddie Mac portfolio with an unpaid principal balance (UPB) of about $3 billion.

According to MountainView's announcement, quality features of the bulk servicing portfolio include 100 percent fixed-rate and first lien product, a weighted average original FICO score of 755, a weighted average original LTV ratio of 80 percent, a weighted average interest rate of 3.9 percent, and low delinquencies. The average loan size is $203,106, according to MountainView.

"This portfolio's above-average amount of expected escrow balances provides a buyer with additional upside potential," said Matt Maurer, managing director at MountainView Servicing Group. "And given the portfolio size and the strength of the counterparty, we expect to receive strong bids from both bank and non-bank MSR buyers."

Texas is the top state for the portfolio with 21 percent of the packaged loans, followed by New Jersey (8.1 percent), Illinois (7.4 percent), and Georgia (7.0 percent).

Bidding for the portfolio will continue for one more week; bids are requested by February 18 and due February 19.