A financial institution is selling mortgage servicing rights on government-sponsored enterprise loans with a three-state concentration.

Bids are being taken for MSRs on a portfolio of 13,289 loans that had a collective unpaid principal balance of $1.809 billion as of March 31.

Fannie Mae mortgages account for 8,969 of the residential loans, while another 4,320 of the units are Freddie Mac loans.

Source: Mortgage Daily