IMA Hits Market with $1 Billion MSR Deal, Plus Flow

Interactive Mortgage Advisors is offering a $1.1 billion package of GNMA bulk servicing rights with an option to buy upwards of $1.5 billion in additional ‘flow’ rights over the next year.

The advisory firm, which is based in Denver, declined to identify the seller. The bid deadline is Dec. 11. The flow component ranges from $120 million to $150 million per month.

A handful of bulk packages are in the market, and there is continued strong interest in MSRs from REITs and hedge funds.

One loan trading executive, whose firm plays in nonperforming space, said his company is now considering bidding on MSRs because he feels the asset is too undervalued. The executive requested that his name not be published.