Denver-based Interactive Mortgage Advisors
is offering two new bulk servicing portfolios to bidders, one with Fannie Mae
and another with Ginnie Mae
The Fannie Mae servicing portfolio contains $502 million in unpaid principal balance. More than 99% of the loans are located in North Carolina, and 1.25% are in delinquency or foreclosure.
The weighted average coupon on the loans is reported at 5.545%, and the mortgage life is an average 30.5 months.
Bidders on the Fannie Mae portfolio must send in a bid by Thursday, Dec. 9.
The second deal consists of Ginnie Mae-backed loans. Ginnie is a government agency that guarantees the timely payment to investors on pools of usually Federal Housing Administration
In this servicing portfolio, according to IMA, the average loan balance is $253,259, and roughly 6% are in delinquency or foreclosure. Two-thirds of the loans are backed by property located in New York, New Jersey or Massachusetts. Like the other the weighted average coupon on this portfolio is 5.545%.
Bids on this portfolio, too, must be sent to IMA by Thursday, Dec. 9.
Write to Jon Prior