A servicing portfolio consisting primarily of loans insured by the Federal Housing Administration is up for sale. Bidding on the $0.2 billion portfolio ends this week.
The offering was announced by MountainView Servicing Group.
According to the Denver-based consulting firm, the Ginnie Mae servicing portfolio has $188 million in fixed-rate mortgages.
FHA loans account for 98.1 percent of the portfolio, while 99.9 percent of the mortgages were originated through the retail channel. The weighted-average interest rate is 5.95 percent.
MountainView is accepting bids until noon Eastern on Friday.
“The seller prefers a sale date of July 29 and is flexible with the transfer date,” the statement said.
MountainView reports that it marketed more than $30 billion in mortgage servicing rights last year, down from $75 billion a year earlier.
