Mortgage servicing rights on nearly $2 billion in home loans backed by the Federal National Mortgage Association have been put up for auction.

The offering includes MSRs on 7,488 single-family Fannie Mae A/A loans that had a collective unpaid principal balance of $1.847 billion as of Feb. 28.

Loans secured by California properties make up 23 percent of the mortgages, and another 12 percent are in Texas. No other states have a double-digit share.

Source: Mortgage Daily