MountainView Handling Sale Of $835M Ginnie Mae MSR Portfolio

Posted by Patrick Barnard on September 12, 2014 No Comments
Categories : Mortgage Servicing

MountainView Servicing Group is facilitating the sale of a Ginnie Mae (GNMA) bulk servicing offering valued at $835 million.

The portfolio comprises 99.7% fixed-rate and 100% first-lien product, a weighted average original FICO of 691, a weighted average original loan-to-value ratio of 94%, and a weighted average interest rate of 4.00%.

The loans are collateralized by properties located in California (23.9%), New York (9.6%), Florida (4.7%) and Pennsylvania (4.5%). The average loan size is $205,309.

Bids are due Sept. 16.

‘This portfolio is being offered by one of the premier mortgage bankers in the country,’ says Robert Wellerstein, managing director at MountainView Servicing Group, in a release. ‘It's an exceptionally clean GNMA portfolio, with a very low coupon and low delinquencies. Given the high-quality product, portfolio size and experienced seller, we expect this package to garner a lot of interest among [mortgage servicing rights (MSR)] buyers.’

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