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Servicing / The Ticker

$760 million Fannie Mae MSR portfolio hits market

Follows string of MSR sales

Fed Money

MountainView Servicing Group is overseeing the sale of a Fannie Mae mortgage-servicing right portfolio with a total unpaid principal balance of $759,526,511.

The portfolio features 100% fixed-rate and first-lien product $464 million of HARP servicing and a weighted average original FICO of 725.

Additionally, it includes a weighted average original LTV of 103%, weighted average interest rate of 4.18% and low delinquencies.

 “The portfolio contains 61% HARP servicing,” says Derek Katz, a managing director at MountainView. “Upon review of our large client database, HARP servicing is prepaying slowly and defaulting infrequently, so this is the ideal situation for a buyer of mortgage servicing rights.”

Furthermore, the MSR portfolio has an average loan size of $210,162 and geographic concentration in Florida (19.8%), New Jersey (15.9%), Massachusetts (12.5%) and Rhode Island (11.7%).

Bids for the portfolio are due Feb. 20.  

This follows a string of Fannie Mae offloading in recent months

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