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Agency MSR Portfolio With $736 Million in UPB Up For Bidding

MSR PortfolioA sizable new portfolio of agency mortgage servicing rights (MSR) has come to market with days left to go before bidding ends.

The newest offering is a Fannie Mae, Freddie Mac, and Ginnie Mae MSR portfolio with $736 million of unpaid principal balance, according to an announcement from residential MSR and valuation advisory services provider MountainView Servicing Group, which is acting as adviser on the sale.

Quality features of the bulk portfolio include 99 percent fixed-rate and 100 percent first-lien product, MountainView said in its announcement. The offering's weighted average original FICO score is 762, the weighted average original loan-to-value ratio is 66 percent, and the weighted average interest rate is 3.94 percent.

Most of the portfolio—89 percent of the packaged loans—is concentrated in California. The portfolio's average loan size is $332,159.

The portfolio is being offered with full representations and warranties from the seller, which is seeking a sale date no later than March 31. Bids are due February 12.

This will be the second MSR rights sale of 2015 for which Denver-based MountainView Servicing Group has acted as adviser; in January, the firm advised on the sale of a Fannie Mae and Freddie Mac MSR portfolio with $4.2 billion in aggregate UPB. A spokesperson for MountainView said the company received five bids for that portfolio.

Based on the annual number of sales, MountainView usually ranks first or second in the nation, according to the company's announcement. During 2014, MountainView advised on 44 MSR portfolio sales involving a total of $43.5 billion of UPB.

About Author: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.
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