Bids are being sought for the servicing rights on less than $1 billion in government-sponsored enterprise mortgages. The offering has a California concentration.

Mortgage servicing rights are being offered for sale on 3,249 single-family loans that had an aggregate unpaid principal balance of $0.775 billion as of April 30.

Fannie Mae A/A mortgages account for 9.4 percent of the loans in the pool, while another 90.6 percent are Freddie Mac ARC loans.

Source: Mortgage Daily