Banks May Carry on with NPL Sales Anyway

The nation's foreclosure mess has definitely slowed sales of nonperforming mortgages because investors in these troubled notes are worried about title issues. (We're told that bid prices have skidded a bit and in some cases auctions have been delayed.) But there's an also an emerging school of thought that says banks may actually step up NPL sales because they, increasingly, have the financial strength to whether the hits – foreclosure crisis or not. We're also starting to see some action in the sale of troubled servicing rights. Interactive Mortgage Advisors of Denver is currently peddling a $2.2 billion portfolio of alt-A servicing that has 13.91% in delinquencies, and 17.21% of foreclosures. For more details on the IMA offering see the National Mortgage News website at: www.nationalmortgagenews.com...