According to MountainView, which is acting as the advisor on the sale, the new portfolio features recently originated loans. The loans are also 100% fixed-rate and first lien product and carry a weighted average original FICO score of 755.
MountainView Servicing Group announced the sale of a $736 million bulk portfolio of mortgage servicing rights featuring loans backed by Freddie Mac, Fannie Mae and Ginnie Mae. Read on for more details.
Another mortgage-servicing rights portfolio has hit the market. This time MountainView Servicing Group is advising in the sale of a $2.7 billion Fannie Mae and Freddie Mac mortgage servicing rights portfolio.
The portfolio features 97% fixed-rate and 100% first-lien product, a weighted average original FICO score of 716, a weighted average original loan-to-value ratio of 86%, and a weighted average interest rate of 4.53%, MountainView said.
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, which features a weighted average original FICO of 725 and 61% HARP servicing.
MountainView Servicing Group is advising the sale of a $2.4B Fannie Mae mortgage-servicing rights portfolio with total unpaid principal balance of $2.4 billion, which features a weighted average interest rate of 3.69% and no delinquencies.
"If you look at what we do, fundamentally, MERS is the mortgagee on behalf of the investor and its assigns, it’s not a whole lot more complicated than that. And that role as an agent is well rooted in the laws of this country. So when you get down to it, and when we get challenged, we typically prevail. We simply take away all the clutter and present what we do, and what the laws actually say, and we get there," MERS CEO Beckmann said in an exclusive profile only in HousingWire magazine..
The CFPB is currently paying close attention to the individuals/small players, as well as the larger institutional mortgage companies. With respect to the small players, the CFPB is looking at the loan officer, real estate agent and developer. A common violation that these smaller firms or individuals commit, in addition to possible violations resulting from social media posts, stems from agreements among themselves. Read More
Ladies and gentlemen, it’s been some time since the mortgage bond world felt shaken to the core. But shaken, right now, it feels, according to several recent conversations I’ve had on the subject. Read More