FDIC to Sell Servicing Rights on $1 Billion of Mortgages

"The Federal Deposit Insurance Corp. (FDIC) in its capacity as receiver for Franklin Bank will sell servicing rights on more than $1bn of residential mortgages. Interactive Mortgage Advisors (IMA) said this week it will serve as the FDIC’s financial advisor on the transaction and will assist it in the marketing and sale the Mortgage Servicing Rights (MSRs) related to $1.06bn of residential mortgage loans. It marks a busy week for IMA, which said it is also accepting bids on behalf of Fannie Mae and Freddie Mac for a bulk servicing offering of 3,416 loans valued at $509.4m."