MountainView Offers $313 Million of FNMA MSRs
Denver (November 17, 2011) – MountainView Servicing Group is offering $313 million of bulk mortgage servicing rights for Fannie Mae loans. The bid deadline for the package is Tuesday, November 22.
The 1,288 recently originated loans behind the MSRs are 99% fixed-rate product, have a weighted average interest rate of 4.63% and have no delinquencies, according to Robert Wellerstein, a managing director at MountainView. Mr. Wellerstein said this is a western states portfolio, with the largest geographic concentrations in California (44.6%), Oregon (20.7%) and Washington (16.1%).
The seller is a large and well-capitalized mortgage banker on the west coast. The company is targeting a December 31 sale date and a January 31 transfer date.
This servicing package is one of seven offered by MountainView over the last 60 days.
About MountainView Servicing Group
For 21 years, MountainView Servicing Group, a wholly owned subsidiary of MountainView Capital Holdings, has been advising independent mortgage companies, commercial banks, thrifts, credit unions and special servicers on the trading, valuation, and overall management of their mortgage servicing rights. MountainView Servicing Group marketed over $30 billion and $75 billion of MSRs in 2010 and 2009, respectively, and was engaged to represent bidders on transactions totaling more than $60 billion. The firm is also the leading provider of MSR portfolio valuations, with clients that include nine of the top 10 servicers as well as 27 of the top 30 servicers.
About MountainView Capital Holdings
Headquartered in Denver, MountainView Capital Holdings is a financial services firm focused on the diverse needs of participants in the mortgage and fixed income capital markets. With expertise in asset management, valuation, risk management, trading, marketing and sales, MountainView is uniquely qualified to create value in all market conditions, and the firm continues to build on a longstanding commitment to offer a broad range of services.
Media Contact
Troy Rusniak | 303-870-8235 or trusniak@mvcg.com