Denver-based MountainView Servicing Group reports that it has completed the sale of a $472 million package of mortgage servicing rights (MSRs) for Fannie Mae loans. The package contained primarily prime, fixed-rate mortgages in California. The loans had an average coupon of 4.50% and an overall delinquency rate of 0.25%.
‘We were pleased to be able to connect our seller to a counterparty who has a strategic plan to grow its servicing portfolio and who was willing to bid without requiring bifurcation of representations and warranties,’ says Matt Maurer, senior vice president at MountainView Servicing Group.
The seller was an independent mortgage company, and the buyer was a bank-owned mortgage lender with a national footprint. Neither party was disclosed. This package was one of six marketed by MountainView in September.