Business News • MarketWire • Freddie Mac Sells $1 Billion of Seriously Delinquent Loans |
Freddie Mac Sells $1 Billion of Seriously Delinquent Loans |
|
|
Freddie Mac Sells $1 Billion of Seriously Delinquent Loans
MCLEAN, VA--(Marketwired - Oct 5, 2016) - Freddie Mac (OTCQB: FMCC) today announced it sold via auction 5,364 deeply delinquent non-performing loans (NPLs) from its mortgage-related investments portfolio. The loans are currently serviced by either Wells Fargo Bank, N.A. or Ditech Financial, LLC. The transaction is expected to settle in December 2016, and servicing will be transferred post-settlement. The sale is part of Freddie Mac's Standard Pool Offerings (SPOŽ). Freddie Mac, through its advisors, began marketing the transaction on September 8, 2016, to potential bidders, including minority and women-owned businesses (MWOBs), non-profits, neighborhood advocacy funds and private investors active in the NPL market.
View More : http://www.marketwired.com/mw/release.do?id=2164213&sourceType=3
|
|
|