MountainView Servicing offering $262 million in Fannie loans
MountainView Servicing Group is offering servicers $262 million of residential loans backed by Fannie Mae. The Denver-based firm said all the mortgages included in the offering are at a fixed rate and more than four-fifths are in California. MountainView Servicing Group will accept bids through Thursday. Robert Thal, managing director of MountainView, said the loans are concentrated in the West with 88% in California. The average loan balance is about $279,000 and the weighted average interest rate for 30-year mortgages is 4.79%. The delinquency rate of the loans is 0.43%, with just four of 940 mortgages 30-days delinquent. "This is a very clean portfolio of loans of recent origination," Thal said. "These are fully documented loans with high FICO scores and high LTV ratios." Write to Jason Philyaw.