Freddie Mac Sells $13.9 Million in Non-Performing Loans

Barchart · 10/16 08:52

MCLEAN, Va., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced it sold via auction 57 deeply delinquent non-performing residential first lien loans (NPLs) from its mortgage-related investments portfolio to Residential Credit Opportunities X, LLC. The loans, with a balance of approximately $13.9 million, are currently serviced by Select Portfolio Servicing Inc. The sales are part of Freddie Mac’s Extended Timeline Pool Offerings (EXPO) and the transactions are expected to settle in December 2024. Freddie Mac, through its advisors, began marketing the transactions on September 3, 2024, to potential bidders, including non-profit organizations and Minority, Women, Disabled, LGBTQ+, Veteran or Service-Disabled Veteran-Owned Businesses (MWDOBs), neighborhood advocacy organizations and private investors active in the NPL market.

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