Nearly $2 billion in government-sponsored enterprise single-family loans that are currently not performing are being offered for sale through an auction to the highest bidder.

Bids are being accepted for 11,000 non-performing Fannie Mae mortgages that have an aggregate unpaid principal balance of $1.84 billion.

The loans are broken out into five pools, including four pools with around 10,300 loans for $1.71 billion and one community impact pool with 700 loans for $0.134 billion.

Source: Mortgage Daily