Interactive Mortgage Advisors is acting as the exclusive broker for the sale of a $46.1 million portfolio of whole loans and REOs.
According to IMA, the seller is an independent mortgage banker with “very strong financials.”
There are 210 loans total in the portfolio, with an average loan size of $216,367. The loans carry a weighted average seasoning of 75.2 months and a weighted average interest rate of 3.89%.
Additionally, the loans carry an average loan-to-value ratio of 78.6%.
According to IMA sales documentation, there are 28 delinquent loans in the portfolio. Nine of the loans are 30 days delinquent, five of the loans are 60 days delinquent and 14 of the loans are 90 days delinquent.
There are also 55 loans in either foreclosure or bankruptcy, which is 26.19% of the total portfolio. There are 29 loans currently in foreclosure, which represent 13.81% of the portfolio.
