$1.1B in Servicing Rights Up for Bid

MountainView Servicing Group announced it is advising the sale of another two mortgage servicing rights (MSR) portfolios, these ones possessing a combined unpaid principal balance of $1.1 billion.

The first portfolio, which goes up for bid April 3, is $923 million of Freddie Mac servicing. According to MountainView, the offering features 100 percent fixed-rate and first lien product with a weighted average original FICO score of 768, a weighted average original loan-to-value ratio of 72 percent, and no delinquencies. The weighted average interest rate for the portfolio is 3.66 percent.

“Over the last six months, we have marketed approximately 40 MSR portfolios consisting mainly of low-rate, conventional servicing,” said Matt Maurer, managing director at MountainView Servicing Group and the lead advisor on the sale. “But this may be the lowest-rate portfolio of them all, with its weighted average 30-year fixed interest rate of 3.66 percent.”

The greatest concentration of loans in the portfolio are in California (35.1 percent), followed by Virginia (7.0 percent), Washington (5.4 percent), and Arizona (5.2 percent).

The second offering unveiled this week is a $205 million Fannie Mae portfolio bidding on April 4.

Quality features include 96 percent fixed-rate and 99.8 percent first lien product weight a weighted average original loan-to-value ratio of 71 percent and a weighted average interest rate of 5.12 percent.

Geographically, the portfolio is mostly concentrated in New York (81.4 percent), California (6.3 percent), New Jersey (4.7 percent), and Florida (2.5 percent).