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Large GSE MSR Offering

Mortgage News

A big offering of mortgage-servicing rights on a portfolio of loans backed by the government-sponsored enterprises with a West Coast concentration is being marketed for sale to the highest bidder.

The offering is for MSRs on
17,925 GSE loans that had a collective unpaid principal balance of $5.101 billion as of March 31. All of the mortgages are fixed rate and in first-lien position.

Freddie Mac ARC loans account for $1.752 billion, and FHLMC STD make up $0.035 billion. Another $0.823 billion are Fannie Mae A/A loans, and $2.491 billion are FNMA MBS.

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

Washington properties secure 64 percent of the loans, while 23 percent are in California and 11 percent are in Oregon. No other state has a double-digit concentration.

On a weighted-average basis, original FICO scores are 770 and original loan-to-value ratios are 70 percent, while the interest rate is 3.85 percent, and the service fee is 0.257 percent.

The weighted-average original term is 337.4 months, and the weighted-average remaining term is 318.8 months.

“The sale portfolio is offered with full representations and warranties from a well-capitalized bank seller,” MountainView said.

Bids are due by May 10. While the seller prefers an all-in bid, it will consider all bids.

Interested parties can contact MountainView Vice President, Marketing Troy Rusniak at 303.633.4739 or [email protected].

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