A portfolio of mortgage servicing rights on Government National Mortgage Association loans has been put up for sale.
The bulk offering of MSRs includes servicing on roughly 4,067 loans included in Ginnie Mae mortgage-backed securities for $835 million.
A hundred percent of the loans are residential first liens, and almost all of the loans in the portfolio have fixed interest rates.
On a weighted-average basis, the average FICO score is 691, the original loan-to-value ratio is 94 percent, and the interest rate is 4.00 percent.
Nearly a quarter of the loans are in California, while 10 percent are in New York.
The seller is “one of the premier mortgage bankers in the country,” according to MountainView Servicing Group, the exclusive sale advisor to the seller.
“It’s an exceptionally clean GNMA portfolio, with a very low coupon and low delinquencies,” MountainView Managing Director Robert Wellerstein said in a written statement. “Given the high-quality product, portfolio size and experienced seller, we expect this package to garner a lot of interest among MSR buyers.”
Bids are due by Sept. 16.
Wellerstein can be reached at 303.633.4738 or [email protected].
