An unnamed seller is putting up for bid more than $201 million in low-coupon Fannie Mae mortgage servicing rights with a 70%-plus California concentration, according to MountainView Servicing Group.
The portfolio has an average original Fair Isaac & Co. credit score of 758, a 70% weighted average original loan-to-value ratio, and a weighted average interest rate three basis points above 4%. The 30-year, fixed-rate component has a weighted average interest rate 14 basis points higher. Almost all the loans are fixed rate and the entirety of the portfolio consists of first-lien product.
The average loan size is $287,035. Other geographic concentrations include an almost 30% Colorado concentration. Less than half a percent of the loans in the portfolio come from Florida.
The deadline for written bids is Tuesday, Jan. 7 at noon Eastern.