MountainView Handling Sale Of $2.1 Billion In Fannie, Ginnie MSRs

MountainView Servicing Group reports that it will be serving as the exclusive sale advisor on two mortgage servicing rights (MSR) portfolios with a total unpaid principal balance of approximately $2.1 billion.

As per a company press release, the first offering is a $635 million Fannie Mae A/A portfolio that bids on Sept. 19. Quality features of the portfolio include 99.9% fixed-rate first-lien product, $431 million of Home Affordable Refinance Program (HARP) servicing, a weighted-average original FICO score of 733 and weighted-average original loan-to-value (LTV) of 107%, a weighted-average interest rate of 4.1%, and low delinquencies.

Top states for the portfolio are Florida (21.3%), New Jersey (16.2%), Massachusetts (13.3%) and Rhode Island (12.7%). The average loan size is $212,333.

The second offering is a $1.5 billion portfolio with approximately $1 billion of Ginnie Mae MSRs and approximately $500 million of Fannie Mae MSRs. Bids for the entire portfolio or either segment are due Sept. 24. Quality features include 99.9% fixed-rate first-lien product, a weighted-average original FICO score of 708 and a weighted average original LTV of 90%, a weighted average interest rate of 3.8%, and $101 million of HARP servicing.

This portfolio also includes $238 million of Section 184 (Native American) loans and has an average loan size of $160,064. Top states are Texas (32.2%), Ohio (18.8%), Colorado (8.5%) and Oklahoma (7.8%).

The two portfolios are from different sellers who are not being identified.


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