Bids are now being taken for mortgage servicing rights on nearly $2 billion in Ginnie Mae residential loans.
MSRs on $1.997 billion in loans included in mortgage-backed securities that are backed by the Government National Mortgage Association are up for bid.
All of the home loans included in the servicing portfolio are fixed-rate and in first lien position.
MountainView Servicing Group, an advisor in the sale, announced the offering on Thursday.
According to the announcement,
17 percent of the loans are backed by California properties. All other states have a concentration of less than 10 percent.
On a weighted-average basis, the original credit score is 698, the original loan-to-value ratio is 94 percent, and the interest rate is 3.76 percent.
The weighted-average servicing fee is 0.351 percent.
“This recently originated GNMA servicing pool has a large weighted-average servicing fee and low weighted-average coupon,” MountainView Managing Director Matt Maurer said in the news release. “Given this and the strength of the counterparty, we expect strong participation and execution in this offering.”
Bids are due by Aug. 3.
Interested parties are being directed to Troy Rusniak at 303.870.8235 or [email protected].
Denver-based MountainView reports that it has provided 692 MSR valuations during the first-half 2015.
