Some time next week a winning bidder should be picked on the $1 billion servicing portfolio being offered by Interactive Mortgage Advisors on behalf of the Federal Deposit Insurance Corp. The receivables once belonged to Franklin Bank Corp. of Texas which failed 10 months ago. Franklin's demise wasn't subprime, but construction lending to home builders -- an asset class that is in deep trouble and causing many small to mid-sized banks to fail, especially newly chartered depositories that bet big on one or two projects. Meanwhile, we're hearing that Freddie Mac might be looking for a senior communications executive and that Fannie Mae has hired some new marketing people...
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