Interactive Mortgage Advisors offers two bulk servicing portfolios
Denver-based Interactive Mortgage Advisors is offering two new bulk servicing portfolios to bidders, one with Fannie Mae and another with Ginnie Mae mortgages. 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 or VA mortgages. 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.