Bids are being accepted for mortgage servicing rights on a more than $2 billion portfolio of Ginnie Mae loans with a Golden State concentration.
The offering involves MSRs on approximately 8,284 mortgages for $2.062 billion that are being serviced on behalf of Ginnie Mae.
All of the residential loans have fixed rates. In addition, each of the home loans are in first-lien position.
MoutainView Servicing Group, which is advising the seller, announced the offering on Thursday.
On a weighted-average basis, the original credit score is 690, the original loan-to-value ratio is 94 percent, and the interest rate is 3.71 percent.
Just over a third of the properties securing the loans are located in California.
“Considering the portfolio’s low interest rate, this is a very attractive package,” MountainView Servicing Group Managing Director Robert Wellerstein said in the announcement. “In addition, the seller is very well capitalized and is very experienced in sales and transfers of mortgage servicing rights.”
Bids are due by Sept. 9.
Wellerstein can be reached at
303.-633.4738 or [email protected].