Interactive Mortgage Advisors of Denver is peddling a $1 billion portfolio of Freddie Mac servicing rights, the second $1 billion-plus offering of the past two weeks. MIAC of New York recently announced that it was offering a $1 billion pool too. One of the biggest stumbling blocks to selling bulk packages is the "contingent liabilities" issue - that is, loan buybacks and other concerns. Meanwhile, a new report from The Washington Post blames the underwater mortgage phenomena for causing Americans to stay put. "With many people locked in homes by underwater mortgages, only 1.6 percent of Americans moved between states in a one-year period that ended in March 2009 - a labor stagnation not seen in half a century."
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