Buyers looking to pick up mortgage servicing rights on more than $300 million in agency loans with a Michigan concentration can make bids on a new offering.

MSRs are being offered on 1,879 Fannie Mae, Freddie Mac and Ginnie Mae loans with an aggregate unpaid principal balance of $326 billion as of March 31.

Single-family properties that are located in Michigan secure 37 percent of the mortgages included in the transaction. No other state has a double-digit share.

Source: Mortgage Daily