Mortgage

$2 billion bulk Ginnie Mae MSR portfolio hits the market

Carries weighted average interest rate of 3.71%

MountainView Servicing Group, a provider of residential mortgage servicing rights sales and valuation advisory services, announced that it is advising on the sale of a $2 billion bulk portfolio of mortgage servicing rights backed by Ginnie Mae.

According to MountainView, the underlying loans carry a total unpaid principal balance of  $2,061,989,089.

The loans are 100% fixed-rate and first lien product. The loan carry a weighted average original credit score of 690, a weighted average original loan-to-value ratio of 94%, and a weighted average interest rate of 3.71%.

The average loan size is $248,912.

“Considering the portfolio’s low interest rate, this is a very attractive package,” says Robert Wellerstein, managing director at MountainView Servicing Group. “In addition, the seller is very well capitalized and is very experienced in sales and transfers of mortgage servicing rights.”

According to MountainView, the top states for the portfolio are California (33.4%), New York (7.9%), Florida (5.%), and Maryland (4.4%).

Most Popular Articles

NAR bans “pocket listings”

The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”

Nov 12, 2019 By

Latest Articles

Congressional vote on “de facto QM Patch” postponed

The House Financial Services Committee postponed a vote on H.R. 2445 on Wednesday, a bill that would fix the so-called QM Patch that’s set to expire in early 2021.

Nov 15, 2019 By