Interactive Mortgage Advisors (IMA), Denver, is auctioning off a $186 million bulk package of Ginnie Mae servicing rights.The seller's identity was not disclosed. A majority of the loans were funded in the mid-Atlantic and New England area and is heavily weighted toward New York, Massachusetts, and New Jersey.
According to the firm's offering circular, the MSRs have delinquencies of 5.7%. The foreclosure rate is 2.3%.
The average loan size is $253,619, the average note rate 5.36%. The bid deadline is this week.
