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""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.
