Mortgage

$2 billion Ginnie Mae bulk MSR portfolio hits market

Loans carry weighted original loan-to-value ratio of 94%

Mortgage servicers seeking to get their hands on some Ginnie Mae servicing now have that opportunity, thanks to a nearly $2 billion mortgage servicing rights portfolio that’s now available for sale.

MountainView Servicing Group, a provider of residential mortgage servicing rights sales and valuation advisory services, is advising on the sale of a Ginnie Mae MSR portfolio with $1,997,180,620 of unpaid principal balance.

According to MountainView, the portfolio include 100% fixed-rate and first-lien product.

The loans also carry a weighted average original credit score of 698, a weighted average original loan-to-value ratio of 94%, a weighted average interest rate of 3.76%, and a weighted average service fee of 0.351%.

Top states for the portfolio are California (17.3%), Florida (6.6%), Illinois (6.6%) and Texas (6.0%).

The average loan size is $214,935.

“This recently originated Ginnie Mae servicing pool has a large weighted average servicing fee and low weighted average coupon,” said Matt Maurer, managing director at MountainView Servicing Group. “Given this and the strength of the counterparty, we expect strong participation and execution in this offering.”

Bids for the portfolio are due by Aug. 3, MountainView said.

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