MountainView Servicing Group is facilitating the sale of two mortgage servicing rights (MSR) portfolios with combined unpaid principal balance (UPB) of $1.1 billion.
The first portfolio, bidding April 3, is $923 million of Freddie Mac servicing. The portfolio comprises 100% fixed-rate and first-lien product, a weighted average original FICO of 768, a weighted average original loan-to-value (LTV) ratio of 72%, a weighted average interest rate of 3.66%, and no delinquencies. Top states for the portfolio are California (35.1%), Virginia (7.0%), Washington (5.4%) and Arizona (5.2%).
‘Over the last six months, we have marketed approximately 40 MSR portfolios consisting mainly of low-rate, conventional servicing,’ says Matt Maurer, managing director at MountainView Servicing Group and the lead advisor on the sale. ‘But this may be the lowest-rate portfolio of them all, with its weighted average 30-year fixed interest rate of 3.66 percent.’
MountainView is also facilitating the sale of a $205 million Fannie Mae servicing portfolio that goes up for bid on April 4. This portfolio includes 96% fixed-rate and 99.8% first-lien product, a weighted average original LTV of 71%, and a weighted average interest rate of 5.12%. Top states are New York (81.4%), California (6.3%), New Jersey (4.7%), and Florida (2.5%).
