Government-sponsored enterprise Freddie Mac is auctioning about $759 million in nonperforming loans (NPLs).
The NPLs are being marketed via five pools: four standard pool offerings (SPOs) and one Extended Timeline Pool Offering (EXPO), which targets participation by smaller investors, including nonprofits and minority and women-owned businesses.
The loans are currently being serviced by Nationstar Mortgage and Specialized Loan Servicing. This is Freddie Mac’s second multi-servicer NPL transaction.
Bids are due from qualified bidders on March 14 for the SPO pools and March 28 for the EXPO pool.
The sales are expected to settle in May.
To register for the auction, click here.