MountainView Facilitating Sale Of Servicing Portfolio Valued At $1.66 Billion

Posted by Patrick Barnard on January 13, 2016 No Comments
Categories : Mortgage Servicing

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.

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