Interactive Mortgage Advisors, Denver, is auctioning off a $57 million portfolio of bulk servicing rights for an undisclosed seller.
The MSRs are tied to Fannie Mae loans originated in California.
According to an offering circular issued by IMA, the product is relatively new (six months of seasoning) and is skewed toward fixed-rate loans. The average loan balance is $223,000.
The bid deadline is early next week.
The California-based lender announced Wednesday the addition of One Goal Mortgage, a branch serving the Omaha, Nebraska, metro area and Southwest Iowa.
Better is focusing on its U.S. mortgage unit, which reported higher-than-expected preliminary loan volumes and priced a stock offering.
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
Roughly a third of homeowners with a mortgage rate less than 6% would not give up their rate for any reason, according to a survey of 1,000 mortgage holders.
In other news, Better Mortgage completed warehouse renewals and Wolters Kluwer provided a new form of access to its digital vault platform for secured parties.
A United Wholesale Mortgage executive stepped in to defend a claim against the company, as consumers pelt the industry with more spam call complaints.
