MountainView Servicing Group is the adviser for the sale of a $3.3 billion Fannie Mae and Freddie Mac bulk mortgage servicing rights portfolio.
The portfolio is being sold on behalf of an unnamed company. Bids on the portfolio are due Sept. 23.
There are many recently originated loans in this portfolio, which has a weighted average age of nine months. The offering includes nearly 15,000 loans, almost all of which are fixed-rate mortgages.
Additionally, the loans have a weighted average original credit score of 759 and a weighted average original loan-to-value ratio of 74%. They carry a weighted average interest rate of 3.62%. More than a third of the loans are located in South Carolina, Georgia, Alabama, Florida and North Carolina.
"This newly originated servicing is very high quality, with high credit scores and almost zero delinquencies, which will be particularly appealing to buyers seeking a concentration in southeastern states," MountainView Managing Director Jeff Drott said in a news release Monday.
Drott added that the seller would like "to engage the winning bidder in a flow transaction relationship" representing between $100 million and $200 million of unpaid principal balance per month.
