A fairly substantial portfolio of mortgage-servicing rights on government-sponsored enterprise loans with a Golden State concentration has been put up for auction.
The offering is for MSRs on 15,146 Fannie Mae loans that had a collective unpaid principal balance of $3.627 billion as of April 30.
On a weighted-average basis, FICO scores are 750, the loan-to-value ratio is 71 percent and the interest rate is 3.74 percent.
The offering was announced Thursday by MountainView Financial Solutions LLC, the exclusive sale advisor to the seller.
Almost all of the loans are in first-lien position. A third of the loans are secured by properties located in California, while no other state has a double-digit concentration.
Delinquency of at least 30 days, including bankruptcies and foreclosures, is 0.61 percent.
While the seller will consider all bids, it prefers an all-in bid.
The seller, which is providing full representations and warranties, prefers a sale date of July 31. Transfer dates are flexible
Bids are due by June 7.
Interested parties can reach out to MountainView Vice President, Marketing, Troy Rusniak at 303.633.4739 or [email protected].
