Monday, January 25, 2016 1:45:22 PM
Freddie Unveils First NPL Auction of 2016: $1.6B of Loans
Serviced by NSM; At Least $7.1B Queued Up ?
By Paul Muolo pmuolo@imfpubs.com
Freddie Mac is in the market with its first nonperforming loan auction of 2016
a $1.6 billion package of seasoned whole loans
held in its investment portfolio.
The mortgages are currently being serviced by Nationstar Mortgage.
Freddie has stratified the NPLs into seven pools: five geographically diversified
standard pool offerings and two geographically concentrated extended timeline
packages, the latter of which targets small investors, including non-profits and
minority- and women-owned businesses.
Bids are due from qualified investors Feb. 23 on the standard pools and
March 8 on the other. The sales are expected to settle in the second quarter
of 2016.
According to Freddie's last 10-Q filing with the SEC, it sold $1.9 billion of
seriously delinquent NPLs during the first nine months of 2015. It reported
holding an additional $7.1 billion of NPLs in its available-for-sale account.
We believe the sale of these mortgage loans provides better economic
returns than continuing to hold them, the GSE noted.
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM