A big offering of mortgage-servicing rights on a portfolio of loans backed by the government-sponsored enterprises with a West Coast concentration is being marketed for sale to the highest bidder.

The offering is for MSRs on 17,925 GSE loans that had a collective unpaid principal balance of $5.101 billion as of March 31. All of the mortgages are fixed rate and in first-lien position.

Freddie Mac ARC loans account for $1.752 billion, and FHLMC STD make up $0.035 billion. Another $0.823 billion are Fannie Mae A/A loans, and $2.491 billion are FNMA MBS.

Source: Mortgage Daily