Mortgage servicers hoping to get their hands on the servicing rights for loans owned by Freddie Mac and Fannie Mae have that chance, according to MountainView Servicing Group, which is acting as advisor in the sale of two separate sales of agency mortgage servicing rights.

The first bulk MSR portfolio carries $979 million in unpaid principal balance on mortgage loans owned by Fannie and Freddie.

According to MountainView, the portfolio features 93% fixed-rate mortgages and 99.9% first-lien product. The loans carry a weighted average FICO score of 740, a weighted average original loan-to-value ratio of 72% and a weighted average interest rate of 4.11%.

The portfolio also has low delinquencies, MountainView said. The pool’s average loan size $255,796, and 82% of the loans are in California.

Bids for this portfolio are due on May 4.

MountainView is also marketing a $202 million portfolio of Fannie MSRs. Bids for that portfolio are due on May 7.

About the Author

Most Popular Articles

Freddie Mac: Mortgage rates reverse course from last week’s low

This week, the average U.S. fixed rate for a 30-year mortgage jumped to 3.69%. That’s still more than a percentage point lower than the 4.85% of the year-earlier week.

Oct 17, 2019 By

Latest Articles

Embrace Home Loans names new senior vice president, retail and direct sales

Embrace Home Loans, a Rhode Island-based mortgage lender, announced this week that longtime employee Ryan “Buddy” Hardiman is being promoted to senior vice president of retail and direct sales.

Oct 18, 2019 By