Residential loan servicers can grow their portfolios with a successful bid on mortgage servicing rights for more than $1 billion in government-sponsored enterprise loans.
A announcement Thursday indicated that MSRs
on $1.246 billion in Fannie Mae and Freddie Mac loans are up for sale.
Properties located in Utah back a fifth of the loans, while 15 percent are secured by Arizona properties, 14 percent are backed by California homes and 11 percent financed Colorado residences.
MountainView Servicing Group, an advisor in the sale, said the average loan size is $226,625 — making the number of loans involved around
5,500.
Alls of the loans are fixed-rate, first-lien mortgages.
Refinance share is 33 percent.
On a weighted-average basis, the credit score is 748, the original loan-to-value ratio is 80 percent, and the interest rate is 403 percent.
Delinquencies are “low.”
Bids are due on July 22.
Denver-based MountainView noted that it has an $0.527 billion Ginnie Mae MSR portfolio bidding today and another $0.561 billion in Ginnie MSRs that bid on July 21.
Interested parties are being directed to Troy Rusniak at 303.870.8235 or [email protected].
