Rise Up Logo

Call Us Today!
(562) 659-9599

Freddie Mac Announces Sixth NPL Transaction of 2015

Freddie Mac Announces Sixth NPL Transaction of 2015

MCLEAN, VA–(Marketwired – Aug 13, 2015) – Freddie Mac (OTCQB: FMCC) today announced a $ 1.2 billion Standard Pool Offerings (SPO (SM)) transaction, an auction of deeply delinquent non-performing loans (NPLs) currently held in its mortgage investment portfolio. The NPLs are currently serviced by Ocwen Loan Servicing, LLC.

The NPLs are being marketed as five geographically diversified pools and are offered via an auction process. Bids are due from qualified bidders on September 9, 2015. The sale is expected to settle in October 2015.

All eligible bidders, including private investors, minority and women-owned businesses (MWOBs), non-profits and neighborhood advocacy funds are encouraged to bid. The winning bidder will be determined on the basis of economics, subject to meeting Freddie Mac’s internal reserve levels. To participate, all potential bidders are required to be approved by Freddie Mac to access the secure data room containing information about the NPLs and to bid on the NPL pool.

Advisors to Freddie Mac on the transaction are Credit Suisse Securities, Wells Fargo Securities, LLC and First Financial Network, Inc., a WOB (Women-Owned Business).

Additional information about the company’s NPL sales is at http://www.freddiemac.com/npl/.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog

Freddie Mac