Freddie Mac Auctioning $400 Million in NPLs

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Freddie Mac is auctioning approximately $400 million in non-performing loans (NPLs).

The loans, which are currently serviced by Specialized Loan Servicing, are being offered in five pools, four of which are standard offerings while one is an Extended Timeline Pool Offering (EXPO), which targets participation by smaller investors, including non-profits and minority, women, disabled, LGBT, veteran or service-disabled veteran-owned businesses.

Bids are due from qualified bidders by October 31 for the standard pools and November 14 for the EXPO pool.

The standard pools are expected to settle in January 2020, while the EXPO pool is expected to settle in February 2020.

Advisors to the transaction are JP Morgan Securities and First Financial Network, a woman-owned business.

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