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MountainView Managing Two MSR Portfolio Sales

FEB 14, 2013 3:09pm ET
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MountainView Servicing Group LLC, Denver, is exclusively managing the sale of two portfolios of servicing on loans with a total unpaid principal balance of $369 million.

One portfolio contains Fannie Mae/Freddie Mac servicing on loans with a total UPB of $237 million. The other contains servicing for agencies and private investors on loans with $132 million of total UPB.

The $237 million portfolio consists of fixed-rate, first lien product with an average original credit score of 770, an average original loan-to-value ratio of 66.4% and an average loan size of $322,682. The bid deadline is Feb. 19.

The $132 million portfolio also contains first-lien product, but it is seasoned and 95% of it is fixed rate. It has an average original credit score of 684, average original LTV of 83.8%, average loan size of $78,519, average interest rate of 5.88%, 0.323% average servicing fee, and 30% delinquency, which may appeal to high-touch servicers. The bid deadline is Feb. 20.

The MSR market has been active, with recent bulk offerings averaging five bids, Robert Wellerstein, managing director at MountainView Servicing Group, said in a company press release. He said he expects the number of bidders to grow going forward.

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