| There is a modest three-state concentration in a portfolio of servicing rights on government-sponsored enterprise single-family loans being offered for sale.
Mortgage servicing rights on 6,383 loans that collectively had an unpaid principal balance of $1.591 billion as of July 31 have been put on the market for sale. Fannie Mae A/A mortgages make up 6,195 loans for $1.559 billion, and the remaining 188 units for $0.032 billion are Freddie Mac ARC loans. The exclusive sale advisor, MountainView Financial Solutions LLC, announced the offering on Monday. All of the residential loans are fixed-rate, first-lien mortgages. Utah is where properties securing a fifth of the loans are located. Another 13 percent are in Arizona, and a 10th are in Washington. All other states have less than a 10 percent share. On a weighted-average basis, the original FICO is 748, the original loan-to-value ratio is 79.3 percent, and the service fee is 0.25 percent, while the interest rate is 4.56 percent. The original term is 341.7 months, and the remaining term is 334.4 months. Delinquency of at least 30 days is 0.41 percent, and none of the loans are in foreclosure or bankruptcy. Reach out to MountainView Vice President, Marketing, Troy Rusniak at 303.633.4739 or [email protected] with inquiries about the portfolio or bids. |
