MountainView Signs Off On $395M in Servicing Rights

""MountainView Servicing Group"":http://www.mvch.com/ recently signed off on the sale of two packages of mortgage servicing rights for loans backed by mortgage giant Fannie Mae.

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The first package totaled $251 million in servicing rights and largely included 30-year and 1-year fixed-rate mortgages. The second package, worth $144 million in rights, comprised reportedly prime-quality 30-year fixed-rate mortgages.

""Over the last couple of quarters, MountainView has been able to assist several independent mortgage banks in monetizing their retained conventional servicing portfolios,"" Matt Maurer, managing director with MountainView, said in a statement. ""And although our clients are selling at a discount to industry consensus MSR fair-value levels, the resulting all-in loan execution is still materially above what the sellers would have received if they had sold to the aggregators.""

Added Robert Wellerstein, another managing director: ""This national buyer is looking to partner with a handful of independent mortgage banks in purchasing packages of Fannie Mae or Freddie Mac MSRs on a flow or forward bulk basis.""