The Government National Mortgage Association is contemplating selling the $1.3 billion servicing portfolio it seized from Ideal Mortgage Bankers Ltd., the failed lender that used the brand name Lend America.

A Ginnie Mae spokeswoman said the agency recently took control of the portfolio and placed it with a subservicer — LoanCare Servicing Center Inc., a Norfolk, Va., unit of Fidelity National Financial Inc.

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