A Fannie Mae/Ginnie Mae mortgage servicing rights portfolio with a total unpaid principal balance of about $2.5 billion is going up for bid on Oct. 17, according to
The seller is one of the first originators to secure financing for its servicing rights and it originally wanted to buy, MountainView managing director Jeff Drott said in a press release. After watching several packages trade in the past two months, they decided to sell.
Top states for the portfolio are Maryland (8.5%), Virginia (7.7%), Pennsylvania (7%) and Georgia (6.1%), according to MountainView. The weighted average loan-to-value ratio is 84.3% and the weighted average interest rate is 4.16%.
Ninety-seven percent of the loans are fixed rate. All are first liens originated through a retail loan channel.
