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Huge Agency MSR Portfolio On the Market

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Mortgage Daily

                                                 April 10, 2018

A huge offering that just hit the market includes mortgage-servicing rights on more than $6 billion in agency-backed loans. There is a modest Illinois concentration.

Bids
are being accepted on an offering of MSRs on 24,594 single-family loans with a collective unpaid principal balance of $6.148 billion.

Freddie Mac ARC loans account for $2.638 billion of the loans, while another $1.448 billion are Fannie Mae MBS, $0.669 billion are Fannie Mae A/A and $1.393 billion are Ginnie Mae II.

MountainView Financial Solutions LLC, the exclusive advisors for the seller, announced the offering.

Based on the number of loans, Illinois properties secure 19 percent of the conventional loans, while another 13 percent are secured by Massachusetts properties.

On the government mortgages, 23 percent of the homes are in Illinois, and a 10th are in Florida.

The interest rate is 3.94 percent
on a weighted-average basis, and the service fee is 0.27 percent, while the original term is 345.1, and the remaining term is 326.5 months.

The original weighted-average loan-to-value ratio is 80.1 percent.

Delinquency of at least 30 days, including bankruptcies and foreclosures, is 1.77 percent.

“The seller will consider all bids but prefers an all-in bid for the sale portfolio,” MountainView said. “Also note the portfolio is offered with full representations and warranties from the seller.”

A sale date during the second-half of May is preferred by the seller. Transfer dates are flexible.

Bids are due by April 17.

People interested in bidding on the MSRs are being directed to Troy Rusniak at 303.633.4739 or [email protected].

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