A new offering has hit the market for mortgage servicing rights on more than $2 billion in Government National Mortgage Association loans.

Bids are being taken for MSRs on 16,965 Ginnie Mae residential loans with a collective unpaid principal balance of $2.092 billion as of March 31.

GNMA I mortgages account for 23 percent of the loans, while the remaining 77 percent are GNMA II loans. No state has a concentration above 9 percent.

Source: Mortgage Daily