An offering of mortgage servicing rights on more than $300 million in government-sponsored enterprise loans has a concentration in the Golden State.
MSRs on 1,415 Fannie Mae and Freddie Mac home loans with an aggregate unpaid principal balance of $339 million have been put up for auction.
California properties secure 52 percent of the loans in the offering, while another 11 percent are located in Nevada. No other state has a double-digit concentration.
Source: Mortgage Daily