Interactive Mortgage Advisors, Denver, is selling a $226 million portfolio of bulk Fannie Mae servicing rights for an undisclosed client.
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The receivables are backed by 1,000 loans, only one of which is considered delinquent. Final bids will be taken next week.
The portfolio has an average weighted yield of 4.9% and a servicing fee of 25 basis points. Roughly 70% of the homes are located in California.
The bulk market for servicing rights has been slow the past few years — unless the government has been the seller — but advisors are hopeful that activity will pick up a bit as the smoke clears from regulatory reform.
