Mortgage servicing rights are being offered on nearly 1 billion in Government National Mortgage Association loans. Most of the properties are located in the Golden State.

The offering is for mortgage-servicing rights on 4,332 Ginnie Mae loans that had a collective unpaid principal balance of $0.903 billion as of Aug. 31.

On a weighted-average basis, the interest rate is 3.880 percent, and the service fee is 0.3233 percent, while the original term is 360.4 months, and the remaining term is 317.9 months.

Source: Mortgage Daily