A new $2.5 billion GSE mortgage servicing rights (MSR) portfolio has hit the market.
MountainView Servicing Group [1], acting as exclusive sale advisor to the MSR seller, unveiled the portfolio, which includes both Fannie Mae and Freddie Mac loans.
According to MountainView, the portfolio [2] is made up of 94 percent fixed-rate and first-lien product with an average loan size of $226,161.
Other quality features include a weighted average original FICO of 755, a weighted average original loan-to-value ratio of 70 percent, and a weighted average interest rate of 3.54 percent. There are no delinquencies in the portfolio.
The majority of loans included are concentrated in California (11.6 percent), Virginia (10.2 percent), Washington (8.5 percent), and North Carolina (7.4 percent), MountainView said.
Bids for the offering are due July 31.