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GSE MSRs On the Block

Mortgage News

Bids are being taken for the mortgage servicing on nearly $1.7 billion in government-sponsored enterprise residential loans.

Mortgage servicing
rights on approximately 5,188 Fannie Mae and Freddie Mac loans for $1.66 billion are on the auction block.

California is where 88 percent of the properties securing the loans in the portfolio are. No other state has a double-digit concentration.

The non-recourse offering was announced by MountainView Servicing Group LLC, the exclusive sale advisor.

FHLMC ARC loans account for 1,342 of the loans, while 3,681 are FNMA A/A and 165 are FNMA MBS.

All of the mortgages are in first-lien position, and 99 percent are fixed rate.

On a weighted-average basis, the FICO score is 759, the original loan-to-value ratio is 60 percent and the interest rate is 3.61 percent.

The weighted-average original term is 289 months, and the weighted-average remaining term is 287 months.

Delinquency of at least 30 days is 0.17 percent.

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

Bids are due by Jan. 19.

Interested buyers can
reach MountainView at 303.633.4700 or visit them online at www.MountainViewCapitalHoldings.com.

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