Mortgage servicing rights on a little more than $3 billion in agency home loans are being offered for sale to the highest bidder.
The deal includes MSRs on 12,449 Ginnie Mae residential loans that have an aggregate principal balance of $3.001 billion.
More than 17 percent of the properties securing the loans are in California, and no other state has a double-digit concentration.
The offering was announced by
MountainView Servicing Group LLC, the exclusive sale advisor.
All of the loans are fixed-rate first liens.
On a weighted-average basis, the service fee is 0.340 percent, the interest rate is 3.60 percent and the original term is 355.9 months while the remaining term is 355.9 months.
The weighted-average original FICO score is 703 and original loan-to-value ratio is 93 percent.
“The seller will consider all bids but prefers an all-in bid for the sale portfolio,” MountainView said. “Also note the portfolio is offered with full representations and warranties from the seller.”
Bids are due by June 28, and the seller prefers a sale date of no later than July 29.
MountainView is online at www.mvch.com.
