MountainView: $201M In Fannie MSRs Up For Bid

Posted by Patrick Barnard on January 03, 2014 No Comments
Categories : Residential Mortgage

MountainView Servicing Group reports that it is facilitating the sale of more than $201 million in mortgage servicing rights (MSRs) going up for bid on Jan. 7.

More precisely, the Fannie Mae MSR portfolio has a total unpaid principal balance of $201,211,525. Written bids are due by 12 noon ET, Tuesday.

As per a company press release, the portfolio consists of 99.6% fixed-rate and 100% first-lien loans, backed by a weighted average original FICO of 758; a weighted average original loan-to-value of 70%, a weighted average interest rate of 4.03% (4.17% on the 30-year, fixed-rate product), and low delinquencies.

The portfolio's average loan size is $287,035. The geographic composition is 70.2% California, 29.5% Colorado and 0.3% Florida.

‘With the latest move up in rates, this low-rate servicing portfolio should garner strong interest,’ says Matt Maurer, managing director at MountainView Servicing Group. ‘California historically is a fast prepayment state for servicing; however, for out of the money or below par-rate servicing, California prepayment speeds move toward the national average.’

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