A small portfolio of mortgage servicing rights on government-sponsored enterprise loans with a Golden State concentration is being marketed for sale.

The bulk offering is for MSRs on 1,435 residential Fannie Mae loans with a collective unpaid principal balance of $329 million as of March 31.

Properties securing half of the mortgages are located in California, while 17 percent are in Virginia, and 15 percent are in Georgia. No other state has a double-digit concentration.

Source: Mortgage Daily