Bank of America is ready to unload yet another multi-billion package of mortgage servicing rights, according to bidders and industry advisors familiar with the bank's plans.

The exact size of the package is unknown, but one bidder who was contacted by BofA said the offering could be in the $4 billion to $5 billion range.

BofA plans to sell 'legacy' MSRs on a monthly basis as it works to reduce its presence in both servicing and the overall mortgage business.

Last fall the megabank sold $74 billion of MSRs to Fannie Mae, and then a $50 billion package of Freddie Mac rights to Fortress Investment Group.

To date, BofA has said little about its MSR plans, but in past earnings calls company executives have admitted that the bank will be a net seller of MSRs in the years ahead.

At Sept. 30, the bank serviced $1.9 trillion in home mortgages, a 10% decline from the third quarter of 2010.

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