Servicers have an opportunity to pick up mortgages servicing rights on over $3 billion in recently originated government-sponsored enterprise loans.
MSRs are being offered for sale on 14,987 loans backed by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp.
The first-lien residential loans collectively have an unpaid outstanding principal balance of
$3.263 billion. Almost all of the mortgages are fixed rate.
MountainView Servicing Group LLC, which is the exclusive sale advisor on the deal, announced the offering Monday.
On a weighted-average basis, the original loan-to-value is 74 percent, the original credit score is 759 and the age is nine months.
The weighted-average interest rate on the Fannie Mae and Freddie Mac loans is 3.62 percent.
South Carolina is the location of properties securing 12 percent of the mortgages, while all other states have less than a 10 percent concentration.
“This newly originated servicing is very high quality, with high credit scores and almost zero delinquencies, which will be particularly appealing to buyers seeking a concentration in southeastern states,” MountainView Managing Director Jeff Drott stated in the announcement. “The seller would also like to engage the winning bidder in a flow transaction relationship of approximately $100–200 million of UPB per month.”
Bids are dub by Sept. 23.
Interested parties should contact Troy Rusniak at 303.870.8235 or [email protected].
