Freddie Mac completes first small pool sale of deeply delinquent mortgages

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Bulk Sale Rights: On the first payment date in which the aggregate pool balance is less than 20% of the initial. Fitch assumed a 100% LS for loans in the states that fall under Freddie Mac’s ‘do.

Freddie Mac completes massive sale of delinquent loans Freddie Mac on Friday completed its largest ever sale of seriously delinquent loans. The government sponsored enterprise (GSE) auctioned off 5,398 deeply delinquent loans with an unpaid principal balance of $985 million.

Community Loan Fund of New Jersey Inc., a nonprofit, is the winning bidder on a pool of 189 deeply delinquent nonperforming loans (NPLs) recently auctioned by Freddie Mac. The loans – which have a total unpaid principal balance of about $43.7 million – are currently being serviced by Bayview Loan Servicing.

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MCLEAN, VA–(Marketwired – Mar 3, 2015) – Freddie Mac (OTCQB: FMCC) sold via auction 1,975 deeply delinquent non-performing loans (NPLs) from its mortgage investment portfolio on February 6, 2015. The loans have an aggregate unpaid principal balance (UPB) of $392 million. The transaction is expected to settle in mid-March.

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Freddie Mac sold 5,398 deeply delinquent non-performing loans from its mortgage investment portfolio on March 25th, making it the largest sale ever of seriously delinquent loans from its portfolio.

Mortgage financier Freddie Mac announced Monday that it would put greater restrictions on the types of delinquent loans it buys from mortgage pools.. Under the new guidelines, Freddie Mac will only purchase delinquent loans 120 days or more overdue if they meet certain criteria.