Bids are being solicited on a portfolio of mortgage servicing rights on $10 billion in government-sponsored enterprise loans.
The offering involves MSRs on approximately 42,970 Fannie Mae and Freddie Mac loans with an aggregate principal balance of roughly $10 billion.
More than a quarter of the properties backing the loans are located in California, while 12 percent are in Colorado and 7 percent are in Washington.
MountainView Servicing group, which is acting as an advisor in the transaction, announced the offering Monday.
All of the loans are fixed-rate first liens, and the average loan age is 24 months.
On a weighted-average basis, the FICO score is 763, the original loan-to-value ratio is 75 percent and the interest rate is 3.82 percent.
Delinquency of at least 30 days is 0.46 percent, and none of the loans are past-due 90 days or more.
“The seller, a well-capitalized bank, prefers to retain servicing on the mortgages through a sale with a sub-servicing agreement but will consider a traditional sale,” Denver-based MountainView stated.
Bids are due by April 13.
