Bids are being taken for mortgage servicing rights on more than $2 billion in loans with a Golden State concentration that are backed or owned by the government-sponsored enterprises.

MSRs on 7,821 Fannie Mae and Freddie Mac residential loans with an aggregate unpaid principal balance of $2.146 billion are available for acquisition.

Loans secured by properties that are located in California account for 35 percent of the total offering. All other states have less than a 10 percent concentration.<

Source: Mortgage Daily