More than $3 billion in reperforming and non-performing government-sponsored enterprise mortgages are being marketed for sale to the highest bidder.

One of two transaction is an offering of roughly 9,900 reperforming loans that have a collective unpaid principal balance of $2.2 billion.

Reperforming loans were previously delinquent. But the mortgages are performing again due to the loans being brought current with and without modifications.

Source: Mortgage Daily