A new offering will provide the successful bidder with mortgage-servicing rights on at least $720 million in government-sponsored enterprise loans — though the amount could be much more.

The co-issue flow offering is for MSRs on between $60 million and $90 million per month in Fannie Mae and Freddie Mac residential loans.

The seller, an independent mortgage banker with a strong retail presence in Illinois, is requesting a 12-month commitment with minimum three month pricing commitments that are renewed.

Source: Mortgage Daily