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For Sale: MSRs on Over $3 Billion in GSE Loans

Mortgage News

A portfolio of mortgage-servicing rights on more than $3 billion in government-sponsored enterprise loans with a modest Golden State concentration has just hit the market.

The offering is for MSRs on 14,901 residential loans that had a collective unpaid principal balance of $3.339 billion as of the end of last month.

Fannie Mae A/A loans account for $1.814 billion of the loans being offering, while $0.062 billion are FNMA MBS mortgages and $1.453 billion are Freddie Mac ARC loans.

The offering was announced Thursday by MountainView Financial Solutions LLC, the exclusive advisor to the seller.

All of the loans are fixed-rate first liens.

Properties located in California secure 18 percent of the loans. No other state has a double-digit concentration.

On a weighted-average basis, the interest rate is 4.09 percent, and the service fee is 0.250 percent, while the original term is 315.4 months, and the remaining term is 307.2 months.

The weighted-average original loan-to-value ratio is 73.9 percent, and the weighted-average FICO score is 746.

Delinquency of at least 30 days, including foreclosures and bankruptcies, stands at just 0.46 percent.

“The seller will consider all bids but prefers an all-in bid for the sale portfolio,” MountainView said. “Also note the sale portfolio is offered with full representations
and warranties from a well-capitalized seller experienced in both servicing sales and transfers. This portfolio is subserviced by Cenlar.”

The servicing transfer date is flexible.

Bids are due by June 21.

Potential bidders should contact MountainView Vice President, Marketing, Troy Rusniak at 303.633.4739 or TRusniak@mviewfs.com.

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