A large portfolio of mortgage servicing rights on government-sponsored enterprise loans and a much smaller offering of MSRs on Government National Mortgage Association loans have hit the market.
The GSE offering involves MSRs on around
14,770 residential loans owned or guaranteed by Fannie Mae and Freddie Mac for $3 billion.
All of the mortgages are fixed rate. As well, 100 percent of the portfolio is first lien.
MountainView Servicing Group, which announced the offering Thursday, is an advisor in the sale.
The weighted-average interest rate is 3.90 percent, while the weighted-average original FICO score of the portfolio is 755.
The original loan-to-value ratio on a weighted-average basis is 80 percent.
Texas is the location of 21 percent of properties backing the loans.
“This portfolio’s above-average amount of expected escrow balances provides a buyer with additional upside potential,” MountainView Managing Director Matt Maurer said in the announcement. “And given the portfolio size and the strength of the counterparty, we expect to receive strong bids from both bank and non-bank MSR buyers.”
Bids are being taken until Feb. 19.
Denver-based MountainView additionally noted that it
began marketing an $0.341 billion portfolio of Ginnie Mae MSRs on Feb. 11. Bids are being accepted on that offering until Feb. 18.
