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Huge Portfolio of Agency MSRs For Sale

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Mortgage servicing rights on more than $4.7 billion in agency loans with a Golden State concentration are being marketed for sale to the highest bidder.

MSRs are being auctioned off on $4.724 billion in residential loans. California is the location of properties securing more than 73 percent of the mortgages.

Included in the portfolio are MSRs on Fannie Mae, Freddie Mac and Ginnie Mae first-lien mortgages. Almost all of the loans are fixed rate.

MountainView Servicing Group, the exclusive sale advisor in the transaction, announced the offering Friday.

On the Fannie and Freddie loans, the weighted-average credit score is 740, the weighted-average original loan-to-value ratio is 72 percent and the weighted-average interest rate is 4.14 percent.

On a weighted-average basis, the Ginnie loans have a 681 credit score,
a 93 percent original LTV ratio and a 3.95 percent interest rate.

“Considering this portfolio’s size and low percentage of delinquencies, we expect interest from both seasoned investors and the market’s newer entrants,” MountainView Managing Director Robert Wellerstein said in the statement. “Potential bidders should also know that the seller, which is a publicly traded bank, has previous MSR sale experience and originated most of the mortgages through its retail channel.”

Bids are due by May 12.

MountainView is online at www.mvch.com and can be reached at 303.633.4700.

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