Mortgage servicing rights on nearly $1.2 billion in government-sponsored enterprise home loans have just hit the market.
The first of two portfolios, which were announced
on Thursday, includes MSRs on roughly 3,827 loans for $979 million.
Ninety-three percent of the residential loans are fixed rate, while 99.9 percent of the mortgages are in first-lien position.
MountainView Servicing Group, which is acting as an advisor in the sale, noted in Thursday’s announcement that 82 percent of the loans are backed by California properties.
On a weighted-average basis, the original FICO score is 740, the original loan-to-value ratio is 72 percent, and the interest rate is 4.11 percent.
“The portfolio also has low delinquencies,” Denver-based MountainView said.
Bids are due by May 4.
MountainView said a second portfolio of MSRs on $202 million in Fannie Mae loans are also up for sale.
No other details were provided on that offering.
Bids for the second sale are due on May 7.
