An originator of up to $80 million a month in Federal Housing Administration mortgages is looking for a servicer to handle some or all of its loans.
A forward bulk/co-issue of Ginnie Mae I and II mortgage servicing rights is being offered by MountainView Servicing Group.
The deal is expected to generate between $25 and $50 million in servicing rights each month.
All of the loans in the portfolio are FHA-insured. The average balance is $221,000, while the average FICO score is 692.
All of the loans were originated through the wholesale channel, according to the statement. Single-family residences account for 86 percent of the loans.
“The seller is not being identified and is open to securitizing on a co-issue/forward bulk basis all of its $75 million to $80 million of monthly FHA production,” MountainView said.
