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Mortgage

$3 billion bulk MSR portfolio hits the market

Features Fannie and Freddie-backed loans

Denver-based MountainView Servicing Group is bringing another portfolio of bulk mortgage servicing rights to the market. Earlier this week, the company announced the sale of a $736 million bulk MSR portfolio featuring loans backed by Freddie Mac, Fannie Mae and Ginnie Mae.

Now, MountainView is overseeing the sale of a new bulk portfolio, this one more than three times larger than the $736 million offering from just a few days ago. The new offering is a $3 billion bulk MSR portfolio, with loans backed by Fannie and Freddie.

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.

The loans also carry a weighted average original loan-to-value ratio of 80%, a weighted average interest rate of 3.9%, and low delinquencies.

The top states for the portfolio are Texas (21%), New Jersey (8.1%), Illinois (7.4%), and Georgia (7%) and the average loan size is $203,106.

“This portfolio’s above-average amount of expected escrow balances provides a buyer with additional upside potential,” says Matt Maurer, managing director at MountainView Servicing Group.

“And given the portfolio size and the strength of the counterparty, we expect to receive strong bids from both bank and nonbank MSR buyers.”

Bids for the portfolio are requested to be in by Feb. 18 and due by Feb. 19, MountainView said.

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