“Through the first quarter of 2016, Freddie Mac has sold $4.3 billion in NPLs as part of its strategy to reduce the less liquid assets in its mortgage investment portfolio.”
Freddie Mac Announces Third Non Performing Loan Transaction of 2016 for $783 Million
$783 Million Transaction Features Seven Pools, Including Two Extended Timeline Pools (EXPOs) Targeting Smaller Investors
MCLEAN, VA–(Marketwired – May 26, 2016) – Freddie Mac (OTCQB: FMCC) today announced a $783 million non-performing loan (NPL) transaction, an auction of seasoned non-performing residential whole loans held in Freddie Mac’s mortgage investment portfolio. The NPLs are currently serviced by Bayview Loan Servicing, LLC.
The NPLs are being marketed via seven pools: five Standard Pool Offerings (SPO®) and two Extended Timeline Pool Offerings (EXPO®) which target participation by smaller investors, including non-profits and minority and women-owned businesses (MWOBs).
Bids are due from qualified bidders on June 15, 2016, for the SPO offerings and June 29, 2016, for the EXPO offerings. The sales are expected to settle in August and September 2016.
All eligible bidders, including private investors, MWOBs, non-profits and neighborhood advocacy funds are encouraged to bid. The winning bidder will be determined on the basis of economics, subject to meeting Freddie Mac’s internal reserve levels. To participate, all potential bidders are required to be approved by Freddie Mac to access the secure data room containing information about the NPLs and to bid on the NPL pool.
Now I see why NeighborWorks homeownership co. Sacramento didn’t pay their utility bills or taxes! They lost their butts on our house, so they set us up for failure! It wasn’t just them however. You can add to the list, Wells Fargo, Bank of America, Nationstar mortgage, Fidelity National Title co. Sacramento Housing & Redevelopment agency and all the other crooks who are in bed with them!