Freddie Mac is auctioning four pools of non-performing loans (NPLs) with a combined unpaid principal balance of about $655 million.
The whole loans are currently serviced by Specialized Loan Servicing.
Three of the pools fall under Freddie Mac’s Standard Pool Offerings (SPO) while one is an Extended Timeline Pool Offering (EXPO), which targets participation by smaller investors, including non-profits and minority or women-owned businesses (MWOBs).
Bids are due by Sept. 28 for the SPO pools and by Oct. 16 for the EXPO pool.
The sales are expected to settle in December.
Wells Fargo Securities LLC, and The Williams Capital Group, L.P., a minority-owned business, are advisors to Freddie Mac on the transaction.
