Next week the Federal Deposit Insurance Corp. could pick a winning bidder on $1 billion in servicing rights belonging to the now-defunct Franklin Bank of Texas. An investment banking source familiar with the transaction told National Mortgage News that "a winner will be picked a week from now." Initially 23 bidders expressed interest in the portfolio of residential servicing rights. Interactive Mortgage Advisors is auctioning the portfolio for the agency. The servicing brokerage declined to comment.
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