MountainView Servicing Group, a provider of mortgage servicing rights (MSR) transaction and valuation advisory services, announced it is acting as the exclusive sale advisor for a Fannie Mae portfolio valued at $152 million (unpaid principal balance).
The portfolio contains 100 percent fixed-rate, first-lien loans with a weighted average interest rate of 3.66 percent (3.90 percent on the 30-year product) and no delinquencies. The average loan size of the offering is $286,682.
Most of the mortgages in the portfolio come from California, New Jersey, and Florida, with those states representing 40.8 percent, 33.2 percent, and 14.0 percent of the offering, respectively.
Matt Maurer, managing director at MountainView Servicing Group and lead advisor on the sale, says these kinds of offerings are becoming more common as competition over servicing rights grows.
“Several of our clients are taking advantage of the aggressively bid mortgage servicing rights market,” Maurer said. “And with margins compressed and origination volumes down, selling servicing at a gain holds a lot of appeal.”
Written bids for the portfolio are due Wednesday, November 20, at 2:00 p.m. Eastern.