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Servicing / The Ticker

Homebuilder's Fannie Mae MSR portfolio for sale

money flare

MountainView Servicing Group is advising the sale of a homebuilder’s $200 million Fannie Mae mortgage-servicing rights portfolio, along with an additional $30 to $40 million of servicing per month from the builder.

The bulk $200 million portfolio is 100% fixed-rate and first lien Fannie Mae product with a weighted average original FICO of 755, a weighted average original loan-to-value ratio of 82%, a weighted average interest rate of 3.91% and low delinquencies.

Additionally, all of the loans were originated by the mortgage financing subsidiary of a homebuilding company, with an average loan size of approximately $236,000.

The portfolio features a high geographical concentration in North Carolina (23.4%), Ohio (22.7%) and Florida (18.4%).

“Given this unique opportunity to buy $700 million plus of homebuilder-originated servicing, we expect a significant amount of interest,” said Robert Wellerstein, Managing Director at MountainView Servicing Group and the lead advisor on the sale.

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