Freddie Mac Auctioning Five More Pools Of NPLs

Posted by Patrick Barnard on September 12, 2016 No Comments
Categories : Mortgage Servicing

Freddie Mac is auctioning five separate pools of nonperforming loans (NPLs) with about $1.1 billion in unpaid principal balance.

Four of the pools are Standard Pool Offerings, while one is an Extended Timeline Pool Offering, which means it is being marketed to smaller investors, including nonprofits and minority- and women-owned businesses.

Bids for the standard pools are due on Sept. 29, while bids for the extended timeline pool are due on Oct. 13. The sales are expected to settle in December.

The government-sponsored enterprise sold about $5.3 billion in NPLs through the first half, as it continues to divest itself of NPLs as part of an overall effort to reduce taxpayer risk.

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