Interactive Mortgage Advisors, Denver, is brokering the auction of servicing rights on a $14.3 billion bulk portfolio of Ginnie Mae home loans. Prospective buyers are asked to prepare two bids, one that includes a "buyout" of eligible loans and a bid for the servicing portfolio that excludes the "buyout" option. The average loan size totals $116,228. The weighted average interest rate is 6.267%, and the weighted average servicing fee is 0.406%. Delinquencies represent 8.01% of the loans, and 1.71% are in foreclosure or bankruptcy. Bids are due at noon Mountain Daylight Time on May 19.
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