In a sign that the bulk market for servicing rights could be heating up, Interactive Mortgage Advisors is auctioning off a $2.1 billion package of receivables for an undisclosed seller. Over the past few months the bulk market has been virtually dead with few of the mega-buyers willing to consider an investment except at rock bottom prices. The receivables — which include the rights to 18 delinquent loans — have a weighted average coupon of 4.95%. The loans have been purchased by Freddie Mac, which has been operating under a federal conservatorship since early fall. A majority of the loans are collateralized by homes in Illinois, Massachusetts, Michigan and Colorado. Final bids are due April 28.
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