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MountainView Servicing Group announces multi-billion dollar MSR sale

Advisory firm MountainView Servicing Group announced the sale of two mortgage servicing rights portfolios valued at $1.7 billion and $301 million, respectively.

The $1.7 billion portfolio contains Fannie Mae, Freddie Mac and Ginnie Mae MSRs and is expected to go up for bid on Friday, June 7.

The second is a $301 million Fannie Mae portfolio set for sale on Tuesday, June 11. 

The $1.7 billion offering is made up of 99% fixed-rate and 100% first-lien product. It also carries a weighted average FICO score of 740 and a weighted average original loan-to-value ratio of 82.6%.

The 6,381 loans backing the MSRs in the $1.7 billion portfolio have a weighted average interest rate of 3.65% and an average unpaid principal balance of $245,836.

The states most represented in the loan portfolio include California, Hawaii and New York.

The $301 million offering includes 100% fixed-rate, first-lien product with a weighted average FICO score of 756 and a weighted average loan-to-value ratio of 77%.

The MSR portfolio, which is backed by 1,566 newly originated loans, has a weighted average interest rate of 3.75% and an average unpaid principal balance of $192,007.

The portfolio is dominated by loans tied to the states of Wisconsin (36.7% of the portfolio); Minnesota (20.1% of the portfolio); Arizona (17%) and Florida (13.3%).

In just the first five months of the year, MountainView has served as the adviser for 38 MSR sales.


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