MountainView Servicing Group is handling the sale of a Fannie Mae and Freddie Mac bulk mortgage servicing rights (MSR) portfolio with more than $3.26 billion in unpaid principal balance (UPB).
The portfolio consists of 14,987 first-lien loans, of which 99.9% are fixed-rate mortgages. The loans have a weighted average original credit score of 759, a weighted average original loan-to-value ratio of 74%, a weighted average interest rate of 3.62% and a weighted average age of nine months.
Properties secured by the mortgages are primarily located in South Carolina (12.0%), Georgia (7.4%), Alabama (6.3%), Florida (5.7%) and North Carolina (5.1%).
Bids for the portfolio are due Sept. 23.
“This newly originated servicing is very high quality, with high credit scores and almost zero delinquencies, which will be particularly appealing to buyers seeking a concentration in southeastern states,” said Jeff Drott, managing director at MountainView, in a release. “The seller would also like to engage the winning bidder in a flow transaction relationship of approximately $100 million to $200 million of UPB per month.”