An offering of mortgage-servicing rights on more than $6 billion in government-sponsored enterprise loans with a California concentration has just hit the market.

Bids are being sought for a portfolio of MSRs on 24,739 single-family loans that had an aggregate unpaid principal balance of $6.197 billion as of Feb. 28.

FHLMC ARC loans make up $2.886 billion of the offering, FNMA MBS account for $2.324 billion, and FNMA A/A represent another $0.988 billion.

Source: Mortgage Daily