A $6.2 billion, Fannie Mae and Freddie Mac bulk portfolio of mortgage servicing rights has gone up for auction, with final bids due March 29.
The portfolio encompasses servicing rights on 26,180 fixed-rate and first-lien mortgages. The loans have a weighted average original credit score of 777, loan-to-value ratio of 74% and interest rate of 3.69%. The portfolio contains no delinquencies.
MountainView Servicing Group in Denver, the broker on the auction, declined to identify the owner of the mortgage servicing rights.
“This conventional MSR portfolio consists of lower-coupon, low-California concentration servicing, which will be appealing to both bank and non-bank MSR buyers,” Matt Maurer, a managing director at MountainView, said in a news release.
