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MountainView Offering $760M Fannie MSR Portfolio

""MountainView Servicing Group"":http://mvch.com/, provider of residential mortgage servicing rights (MSR) transaction and valuation advisory services, announced the offering of yet another Fannie Mae portfolio.

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Possessing an unpaid principal balance of just less than $760 million, the portfolio includes 100 percent fixed-rate and first-lien product, with 89.7 percent 30-year fixed-rate loans. The weighted average original FICO score for the portfolio is 725, the weighted average loan-to-value ratio is 103 percent, and the weighted average interest rate is 4.18 percent.

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In addition, the portfolio contains $464 million-about 61 percent-Home Affordable Refinance Program (HARP) servicing, according to MountainView.

""Upon review of our large client database, HARP servicing is prepaying slowly and defaulting infrequently, so this is the ideal situation for a buyer of mortgage servicing rights,"" said MountainView managing director Derek Katz.

On top of that, the offering has an average loan size of $210,162 and is geographically concentrated in Florida (19.8 percent), New Jersey (15.9 percent), Massachusetts (12.5 percent), and Rhode Island (11.7 percent).

Bids are due Thursday at noon Eastern.

The $760 million portfolio is just the latest MSR sale offered through MountainView. The company announced two other sales earlier in February.

In addition, MountainView also announced the sale of a $504 million Fannie Mae MSR portfolio; bids for that offering are due Wednesday at 2 p.m. Eastern.

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