More than $3.6 billion in government-sponsored enterprise mortgages are being auctioned off. The loans are non-performing and re-performing.

One offering has 3,600 non-performing Fannie Mae loans with a collective unpaid principal balance of $613 million. Bids are due by June 1.

Washington-based Fannie is selling the residential loans from its investment portfolio, which was previously reported at $269 billion as of March 31.

Source: Mortgage Daily