MountainView Servicing Group reports that it is facilitating the sale of a nonrecourse servicing portfolio of mostly performing Fannie Mae and Freddie Mac loans valued at around $1.66 billion.
About 99% of the portfolio is fixed-rate loans. All of the loans are first-lien mortgages.
The portfolio sports a weighted average original FICO score of 759 and weighted average original loan-to-value ratio of 60%.
It features a weighted average interest rate of 3.61% (3.93% on the 30-year fixed rate product).
The delinquency rate for the portfolio is low, the firm says in a release.
Most of the properties securing the loans are located in California (87.7%), with the remainder in Texas (1.6%), Washington (1.3%) and Colorado (1.0%),
The average loan size is $320,416.
Bids are due by Jan. 19.