Bidding ends in two days on a $262 million servicing portfolio of agency loans. Most of the loans are secured by properties in the West.
The portfolio is being offered by MountainView Servicing Group, a news release Tuesday said. Around 940 units are involved.
The loans are being serviced for Fannie Mae. All of the mortgages are fixed-rate, and 88 percent are secured by California properties.
The overall delinquency rate on the portfolio is 0.43 percent, according to MountainView.
The Denver-based consulting firm, which specializes in valuing and trading servicing portfolios, noted that it is serving as the exclusive sale advisor on the offering of the “relatively high-quality” servicing portfolio.
Bids are being accepted until April 28 at noon Eastern Daylight Time. The sale date must occur by May 31, though the transfer date is flexible.
MountainView said it marketed more than $30 billion in servicing rights last year, down from $75 billion in 2009. It was reportedly engaged to represent bidders on transactions totaling more than $60 billion.
Servicing portfolio valuations were completed on 565 portfolios for 120 MountainView clients during 2010, the statement said.
