MountainView Servicing Group said it has completed the sale of a $442 million package of Fannie Mae bulk servicing rights.
The seller is an independent nonbank lender that sold the receivables to a bank affiliate. The brokerage firm declined to identify either party.
The underlying loans have an average coupon of 4.5% and a delinquency rate of just 0.25%.
In a statement MountainView said the package is one of six marketed by the firm in September.
The California-based lender announced Wednesday the addition of One Goal Mortgage, a branch serving the Omaha, Nebraska, metro area and Southwest Iowa.
Better is focusing on its U.S. mortgage unit, which reported higher-than-expected preliminary loan volumes and priced a stock offering.
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
Roughly a third of homeowners with a mortgage rate less than 6% would not give up their rate for any reason, according to a survey of 1,000 mortgage holders.
In other news, Better Mortgage completed warehouse renewals and Wolters Kluwer provided a new form of access to its digital vault platform for secured parties.
A United Wholesale Mortgage executive stepped in to defend a claim against the company, as consumers pelt the industry with more spam call complaints.
