Mortgage servicing rights on more than $6 billion in government-sponsored enterprise loans with a modest California concentration are for sale.
The MSR offering
is for 26,180 Fannie Mae and Freddie Mac home loans that have a collective unpaid principal balance of $6.194 billion.
All of the GSE-backed mortgages that are included in the bulk offering are fixed rate, and each of the residential loans is in first-lien position.
The deal was announced Monday by MountainView Servicing Group, which is advising on the sale.
On a weighted-average basis, the original credit score is 777, the original loan-to-value ratio is 74 percent, and the interest rate is 3.69 percent.
None of the loans are delinquent.
California is where properties backing 17 percent of the loans are located. No other state has a double-digit concentration.
Matt Maurer, a MountainView managing director, noted in the announcement that the offering will appeal to both bank and non-bank buyers.
Bids are due by March 29.
Prospective buyers can contact Maurer at 303.633.4796 or [email protected].
