A successful bidder will pick up mortgage servicing rights on over $1.3 billion in Ginnie Mae loans with a 10 percent concentration in Florida.

Up for auction are MSRs on 6,328 Ginnie Mae mortgages. As of Jan. 31, 2017, the loans had an aggregate principal balance of $1.352 billion.

The weighted-average original term as of the end of last month was 352 months, while the remaining term worked out to 347 months.

Source: Mortgage Daily