A tiny portfolio of servicing rights on single-family loans that are backed by the government-sponsored enterprises is being sold through the auction process. There is an East Coast concentration.

Bids are being sought for mortgage-servicing rights on 588 single-family loans that had an aggregate unpaid principal balance of $149 billion as of June 30.

Massachusetts is the location of houses securing 69 percent of the loans, while another 12 percent are located in South Carolina. No other state has a double-digit concentration.

Source: Mortgage Daily