navycmdr Monday, 01/25/16 01:45:22 PM Re: navycmdr post# 327639 0 Post # of 467030 Freddie takin' out the GARBAGE loans ... improved profitability ! Freddie Unveils First NPL Auction of 2016: $1.6B of Loans Serviced by NSM; At Least $7.1B Queued Up ? By Paul Muolo email@example.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.