MountainView to Advise on $1.2B Mortgage Sale

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MountainView Servicing Group, a Denver-based company, will serve as an advisor in the sale of a $1.2 billion Fannie Mae and Freddie Mac mortgage servicing rights portfolio.

The weighted average original FICO score is 752, the weighted average original loan-to-value ratio is 74%, and the weighted average interest rate is 4.24%, plus there are no delinquencies.

A major plurality of the unpaid mortgages, 44.2%, come from California. The next closest amount, 9%, is from New York. The average loan amount is $266,944.

An unnamed independent mortgage bank contracted MountainView to organize bids, which are due Nov. 21. MountainView’s announcement describes the seller as having “high net worth and significant MSR sales experience.”

MountainView specializes in transaction and valuation advisory services for residential mortgage servicing rights.

Article source: http://www.nationalmortgagenews.com/news/servicing/mountianview-to-advise-on-12b-mortgage-sale-1043178-1.html

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