MountainView Advising On Sale Of $2.8 Billion MSR Portfolio

MountainView Servicing Group is advising on the sale of a Fannie Mae, Freddie Mac and Ginnie Mae bulk mortgage servicing rights (MSR) portfolio with a total unpaid principal balance of about $2.8 billion.

The low-delinquency portfolio comprises 99% fixed-rate and 100% first-lien product. The loans have a weighted average original credit score of 733, a weighted average original loan-to-value ratio of 70%, and a weighted average interest rate of 3.94%, MountainView says in a press release.

The average loan size is $287,798. About 80% of the loans are secured by properties in California.

Bids for the offering are due on Feb. 17. The seller, an independent mortgage bank, will accept bids on the entire portfolio or by agency.

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