Freddie Mac Auctioning NPL Portfolio Valued at About $420 Million

In an effort to rid its balance sheet of risky assets, government-sponsored enterprise Freddie Mac is auctioning off a pool of non-performing mortgage loans (NPLs) valued at about $420 million.

The NPLs, which are currently serviced by Shellpoint Mortgage Servicing, are being marketed via four pools: three Standard Pool Offerings (SPO) and one Extended Timeline Pool Offering (EXPO), which targets participation by smaller investors, including non-profits and minority- or women-owned businesses.

Bids are due March 13 for the SPO pools and March 27 for the EXPO pool.

The sales are expected to settle in May 2018.

To date, Freddie Mac has sold $7 billion in NPLs, securitized $27 billion in RPLs via fully guaranteed PCs and transacted $9 billion in RPLs via senior/sub securitizations or structured offerings.

The last time Freddie Mac announced a sale of NPLs was in February 2017.


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