MountainView Servicing Group is handling the sale of a Fannie Mae and Freddie Mac mortgage servicing rights portfolio with about $2.7 billion of total unpaid principal balance.
The portfolio comprises 100% fixed-rate and first-lien product, 100% retail production, 80% purchase loans, a weighted average original FICO score of 746, a weighted average original loan-to-value ratio of 79%, and a weighted average interest rate of 4.51%.
Top states in the portfolio's nationwide geography are California (17.6%), Arizona (16.4%), Utah (16.4%) and Colorado (9.7%). The average loan size is $207,263.
‘Given the portfolio size and the fact that it's 100 percent retail and 80 percent purchase servicing, we expect a large amount of interest,’ says Matt Maurer, managing director at MountainView Servicing Group, in a release. ‘We have marketed a lot of portfolios and rarely come across portfolios with this much purchase concentration.’
Bids are due Dec. 18.