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DS News Webcast: Wednesday 1/7/2015

The new year brought with it a new mortgage servicing rights opportunity for interested buyers: a substantial GSE portfolio valued at 4.2 billion dollars in aggregate unpaid principal balance. According to MountainView Servicing Group, which is acting as facilitator for the sale, the portfolio is entirely made up of fixed-rate and first-lien product and features low delinquencies. The latest offering is the fourth billion-dollar-plus portfolio to be offered through MountainView in as many months.

Among other quality features, the portfolio has a weighted average original FICO score of 752, a weighted average original loan-to-value ratio of 75 percent, and a weighted average interest rate of 4.19 percent. The average loan size is nearly 244 thousand dollars. The majority of loans included in the sale are in California at about 51.3 percent, according to MountainView. Other top states include Arizona, Texas, and Colorado. Bids for the portfolio are due by the end of the day on Wednesday, January 7.

U.S. Department of Housing and Urban Development Secretary Julián Castro is scheduled to speak at the National Press Club luncheon on Tuesday, January 13, to address the state of the housing industry and what HUD's plans are for 2015, the NPC announced on Tuesday. Castro, a former mayor of San Antonio, became the first Hispanic to deliver a keynote speech at a national political convention when he spoke at the Democratic National Convention in 2012. Considered an emerging leader for the Democratic Party, Castro was sworn in as HUD secretary in July 2014 at age 39.

About Author: Jordan Funderburk

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