FMCC - Freddie Mac Announces $628 million NPL Sale | Benzinga
MCLEAN, Va., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) announced today an approximate $628 million non-performing loan (NPL) sale, via an auction of seasoned non-performing residential first lien loans held in Freddie Mac's mortgage-related investments portfolio. The NPLs are currently serviced by Specialized Loan Servicing LLC, Select Portfolio Servicing, Inc., NewRez LLC, d/b/a Shellpoint Mortgage Servicing or Nationstar Mortgage LLC d/b/a RightPath Servicing.
The NPLs are being marketed via four pools: two Standard Pool Offerings (SPO®) and two Extended Timeline Pool Offerings (EXPO®), which target participation by smaller investors, including non-profits and Minority, Women, Disabled, LGBTQ+, Veteran or Service-Disabled Veteran-Owned Businesses (MWDOBs).
Bids are due from qualified bidders by September 21, 2023 for the SPO pools, and October 19, 2023 for the EXPO pools.
All eligible bidders, including private investors, MWDOBs, non-profits and neighborhood advocacy organizations are encouraged to bid. To participate, all potential bidders must be ...