Freddie Mac Sells $22 Million in NPLs to Matawin Ventures


Matawin Ventures XXVII, LLC, is the winning bidder on a pool of 118 non-performing residential first lien loans (NPLs) with total unpaid principal balance (UPB) of $22 million recently auctioned by Freddie Mac.

The pool of loans is concentrated in New York State (excluding New York City). The average loan size is $186,400. The average combined loan to value ratio is less than or equal to 90%. The average number of months delinquent is 37. 

About 54% of the pool is mortgages that were previously modified and subsequently became delinquent.

The loans are currently serviced by NewRez, doing business as Shellpoint Mortgage Servicing. 

The sale is part of Freddie Mac’s Extended Timeline Pool Offering. These pools are marketed to non-profits and minority, women, disabled, LGBT, veteran or service-disabled veteran-owned businesses (MWDOBs), neighborhood advocacy organizations and private investors active in the NPL market.

The deal is expected to close in July.

Freddie Mac, through its advisors, began marketing the transaction on April 11.

Purchasers of Freddie Mac’s Extended Timeline Pool Offerings are required to solicit distressed borrowers for additional assistance except in limited cases and ensure all pending loss mitigation actions are completed.

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