Freddie Mac is auctioning a pool of non-performing mortgage loans with unpaid principal balance (UPB) of about $290 million.
The number of loans is not specified in a company press release.
The NPLs being offered consist of seasoned, deeply delinquent residential first lien whole loans held in Freddie Mac’s mortgage-related investments portfolio.
The NPLs are currently serviced by Select Portfolio Servicing Inc., Newrez, d/b/a Shellpoint Mortgage Servicing or Nationstar Mortgage, d/b/a Rushmore Servicing.
They 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, Women, Disabled, LGBTQ+, Veteran or Service-Disabled Veteran-Owned Businesses (MWDOBs).
Bids are due from qualified bidders by March 27 for the SPO pools, and April 10 for the EXPO pool.
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