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.