MountainView Puts Up for Bid Fannie MSRs Totaling $1.3B

MountainView Servicing Group, as exclusive sale advisor on behalf of an unnamed seller, is putting up for bid two Fannie Mae mortgage servicing rights portfolios with a total unpaid principal balance of $1.3 billion, one California-dominated and the other with a strong Midwest concentration and higher LTVs.

The California-concentrated offering (57.4%) is a $1.1 billion portfolio bidding Sept. 26 that is comprised almost completely of fixed rate, first-lien product. It has a weighted average original Fair Isaac & Co. credit score of 755 and a weighted average original loan-to-value ratio of 79%. This portfolio’s weighted average interest rate is 4.14% and its average loan size is $281,175.

The other offering is a $257 million portfolio with a 27.9% Wisconsin concentration and a 19.9% Minnesota concentration. Other states with strong concentrations include Florida (18.5%) and Arizona (16.5%). This portfolio is comprised entirely of fixed rate, first-lien product, has a weighted average original FICO of 751 and a weighted average original LTV of 89%. Its weighted average interest rate is 3.93% and its average loan size is $184,715. The bid deadline for this portfolio is Oct. 1.