Mortgage servicing rights on nearly $1 billion in government-sponsored enterprise loans with a California concentration are being auctioned off.

Bids are now being accepted for MSRs on 4,598 residential loans that had an aggregate unpaid principal balance of $920 million as of Feb. 28.

FNMA A/A loans make up $676 million of the portfolio, FNMA MBS account for $5 million, and another $239 million are FHLMC ARC loans.

Source: Mortgage Daily