An auction is being held for the servicing on a very small portfolio of government-sponsored enterprise mortgages. The portfolio is concentrated in the eastern half of the country.

Bids are being sought for mortgage-servicing rights on 504 residential loans that had an aggregate unpaid principal balance of $0.105 billion as of the end of last month.

Most of the loans, 86 percent, are Fannie Mae A/A mortgages. Another 10 percent are Fannie Mae ARC transactions, while just 5 percent are Freddie Mac MBS loans.

Source: Mortgage Daily