Bank of America Corp. has put up for sale at least $1 billion worth of toxic mortgage assets, according to published reports.

Bids are due by the end of December for the assets, which includes already written-off loans and mortgage-servicing rights, the New York Post said.

The asset sale is part of a larger effort by the bank to unwind a trove of assets in the wake of the purchases of Countrywide Financial and Merrill Lynch, the Post said.

Bank of America declined to comment to the New York Post. The company could not be immediately reached for comment by Reuters outside regular business hours. (Reuters)