Two mortgage servicing rights portfolios are going up for bid, one a $1.7 billion Fannie Mae, Freddie Mac and Ginnie Mae portfolio, and one a $301 million Fannie Mae portfolio, according to MountainView Servicing Group LLC.
The first portfolio goes up for bid on Friday, June 7, and the second goes up for bid on Tuesday, June 11.
According to MountainView, which is exclusively managing the sales, the $1.7 billion offering includes 99% fixed-rate and 100% first-lien product, has a weighted average Fair Isaac & Co. credit score of 740, and a weighted average original loan-to-value ratio of 82.6%.
The 6,831 newly originated loans backed by these MSRs have a weighted average interest rate of 3.65% or 3.71% on the 30-year fixed-rate product. These loans also have a 0.22% delinquency rate, and an average unpaid principal balance of $245,836. Top states are California (37.2%), Hawaii (6.8%) and New York (6.2%).
The $301 million offering is for 100% fixed-rate, first-lien product, with a weighted average original FICO of 756 and a weighted average original LTV of 77%. The 1,566 newly originated loans backing the MSRs have a weighted average interest rate of 3.75% or 3.89% on the 30-year fixed-rate product, no delinquencies, and an average UPB of $192,007. Top states are Wisconsin (36.7%), Minnesota (20.1%), Arizona (17%) and Florida (13.3%).
In the first five months of 2013, MountainView advised on 38 MSR transactions, announcing some—such as this pair and
