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MountainView Taking Bids on $485M Fannie Mae Servicing Portfolio

""MountainView Servicing Group"":http://www.mvch.com announced Wednesday that it has been retained as the exclusive sale advisor for a $485 million Fannie Mae servicing portfolio.

Ninety-nine percent of the portfolio consists of fixed-rate loans, primarily located in Illinois, with a weighted[IMAGE] [COLUMN_BREAK]

average interest rate of 4.67 percent. The delinquency rate of the portfolio is 2.21 percent. Borrowers have a weighted average FICO score of 761. The portfolio carries a weighted average servicing fee of 0.30 percent.

Robert Wellerstein, managing director at MountainView, said bids on the portfolio are requested by September 7th.

MountainView is also marketing a $45 million portfolio of Ginnie Mae servicing rights.

The portfolio is comprised entirely of fixed-rate loans, with the largest geographic concentrations in California (78.8%) and Texas (7.4%), and a weighted average interest rate of 5.43 percent. The weighted average age of the loans is 1.8 months. The portfolio has a weighted average servicing fee of 0.37 percent.

The seller is requesting bids by September 7th and is also interested in setting up a Ginnie Mae flow relationship.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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