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MSRs on Nearly $1 Billion in GSE Loans for Sale

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Mortgage Daily

                                                 March 2, 2017

Mortgage servicing rights on nearly $1 billion in government-sponsored enterprise loans with a California concentration are being auctioned off.

Bids are now being accepted for MSRs on 4,598 residential loans that had an aggregate unpaid principal balance of $920 million as of Feb. 28.

FNMA A/A loans make up $676 million of the portfolio, FNMA MBS account for $5 million, and another $239 million are FHLMC ARC loans.

MountainView Servicing Group LLC announced the offering.

All of the mortgages are first liens, and 93 percent are fixed rate.

On a weighted-average basis, the original FICO score is 753, and the original loan-to-value ratio is 72 percent. The original term is 322.4 months, and the remaining term is 302.3 months.

The weighted-average interest rate is 3.8 percent, while the weighted-average service fee is 0.25 percent.

None of the loans in the offering are delinquent.

California properties secure 23 percent of the loans in the offering, while Texas is the location of 10 percent. No other state has a double-digit concentration.

“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 of April 30 is preferred by the seller, while the transfer date is flexible.

Bids are due by March 9. Interested parties can contact MountainView Vice President Marketing Troy Rusniak at
303.633.4739 or [email protected].

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