Bids are being sought for the servicing on nearly $300 million in government-sponsored enterprise residential loans with a Golden State concentration.

The offering is for mortgage servicing rights on 1,096 single-family loans that had an aggregate unpaid principal balance of $299 million as of June 30.

Fannie Mae A/A mortgages account for 1,096 loans in the portfolio, while Freddie Mac ARC loans make up just 27 of the mortgages.

Source: Mortgage Daily