Bids are being taken for a portfolio of mortgage servicing rights on Ginnie Mae loans that have a concentration on the East Coast.

The offering includes MSRs on 1,616 Ginnie Mae loans with an aggregate unpaid principal balance of $402 million as of Jan. 31.

Last month’s weighted-average original term was 355.4 months, the remaining term was 320.2 months and the age was 35.2 months.

Source: Mortgage Daily