Bids are being accepted for mortgage servicing rights on a huge portfolio of government-sponsored enterprise home loans.
The offering
involves MSRs on roughly 17,218 Fannie Mae and Freddie Mac loans with an aggregate unpaid principal balance of $4.2 billion.
All of the loans are fixed-rate first liens, and a majority of the mortgages are backed by California properties.
MountainView Servicing Group, which is playing an advisory role in the sale, said that the weighted-average FICO score exceeds 752.
The weighted-average loan-to-value ratio is 75 percent, while the weighted-average interest rate is 4.19 percent.
Performance is characterized as “low delinquencies.”
“We continue to see strong demand for the MSR asset,” MountainView Managing Director said in a written statement. “And given the quality of this collateral from a well-capitalized seller, we expect this offering to sell at a strong level as well.”
Bids are due by Jan. 7.
