MountainView Brings $10 Billion MSR Portfolio to Market
Denver (March 30, 2015) – MountainView Servicing Group, a leading provider of residential mortgage servicing rights sales and valuation advisory services, today announces its advisory role for the sale of a Freddie Mac and Fannie Mae MSR portfolio with approximately $10 billion of unpaid principal balance. Bids for the portfolio are due by April 13.
Quality features of the portfolio include 100 percent fixed-rate and first lien product, a weighted average original FICO score of 763, a weighted average original loan-to-value ratio of 75 percent and a weighted average interest rate of 3.82 percent. The portfolio also has low delinquencies: 0.41 percent of the loans are 30 days late, 0.05 percent of the loans are 60 days late, and no loans are 90+ days late.
Top states for the portfolio are California (25.5 percent), Colorado (11.8 percent) and Washington (6.5 percent). The average loan size is $232,719 and the average loan age is 24 months.
“This portfolio has a weighted average coupon of 3.82 percent, while a lot of the servicing portfolios that have recently come to market have had weighted average coupons above 4 percent,” said Robert Wellerstein, managing director at MountainView Servicing Group. “And given the recent move down in rates, this portfolio gives buyers a rare opportunity to buy a large amount of discount and par rate servicing.”
The seller, a well-capitalized bank, prefers to retain servicing on the mortgages through a sale with a subservicing agreement but will consider a traditional sale.
About MountainView Servicing Group
MountainView Servicing Group, a subsidiary of MountainView Capital Holdings, has been a residential mortgage servicing rights sales and valuation advisor since 1989. Today, the company is the #1 provider of MSR valuations, with 1,442 marks in 2014 for approximately 250 clients, including eight of the top 10 holders of MSRs.* In addition, the company is typically the #1 or #2 MSR sales advisor (based on annual number of deals), and it advised on 44 MSR portfolio sales involving $43.5 billion of UPB during 2014.
*Based on rankings from Top 100 Mortgage Servicers, 1Q14, Inside Mortgage Finance, 6/25/2014
About MountainView Capital Holdings
For more than 25 years, Denver-based MountainView Capital Holdings has been focusing on the capital markets and financial advisory needs of the financial services industry while specializing in residential mortgage and fixed income assets. With expertise in sales and trading, analytics and asset management, MountainView is uniquely qualified to create value for clients in all market conditions, and the firm is continually building on a longstanding commitment to offer a broad range of services.
Troy Rusniak | 303-870-8235 or firstname.lastname@example.org