MountainView Servicing Group, Denver, recently completed the sale of three bulk packages of mortgage servicing rights that had combined balances of $487 million.
All three packages were sold without bifurcation of seller and servicer representations and warranties, the company said.
The identity of the sellers was not disclosed.
Advisory firms are reporting an increasing interest on the buy-side for newly originated unblemished MSRs. MountainView is currently working on two more transactions that have combined balances of $750 million.
The $487 million in product, on average, was backed by mortgages that were less than three months old.
“Several mortgage banks are selling recently originated mortgage servicing rights at levels above AOT [assignment of trade] pricing and at or near net Fannie Mae bifurcated co-issue pricing,” said Matt Maurer, managing director at MountainView Servicing Group. “By selling on a non-bifurcated basis, the sellers are able to reduce the size of their Fannie Mae sold portfolio, which in turn allows them to deliver more loans to Fannie Mae.”
