MountainView Servicing Group LLC still hopes to sell a $262 million bulk package of Fannie Mae servicing rights after the portfolio did not trade by its initial bid deadline.
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“We are still trying to find a do-able bid for the seller,” said a MountainView spokesman.
The MSR package is backed by fixed-rate loans that yield roughly 4.79%. Delinquencies total just 0.43%.
Originally, the Denver-based MountainView had hoped to complete a sale by the end of May, but now that deadline looks unlikely.
The identity of the selling institution was not revealed. The first bid deadline expired on April 28.
