Servicing

Big MSR swap with MountainView offering millions in agency product

Advisory firm MountainView Servicing Group is managing the sale of a $755 million Fannie Mae servicing portfolio along with another portfolio comprised of $395 million in Fannie Mae and Freddie Mac loans.

About 99.8% of the Fannie Mae servicing portfolio is made up of fixed-rate first-lien products, carrying a weighted average FICO score of 737 and a weighted average loan-to-value ratio of 74.5%.

The MSR deal includes the rights to 7,836 loans with a weighted average interest rate of 5.08% and an average unpaid principal balance of $96,348.

Meanwhile, the $395 million MSR offering is tied to 1,561 Fannie Mae and Freddie Mac loans and a portfolio that includes $342 million of HARP servicing, MountainView Servicing said.

Other quality features of the portfolio include an average original FICO of at least 745, a weighted average LTV of 117% and a weighted average interest rate of 3.91% along with a 0.19% delinquency rate.

In addition, it includes an average unpaid principal balance of $253,531.

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