On Tuesday Freddie Mac announced its latest sale of deeply delinquent non-performing loans.

The sale will be Freddie Mac’s seventh non-performing loan sale since the Federal Housing Finance Agency announced the new requirements for sales of NPLs by Freddie Mac and Fannie Mae to make sure the loans go to capable mortgage servicers.

The new sale from Freddie Mac is a $327 million standard pool offering of non-performing loans currently held in Freddie Mac’s mortgage investment portfolio.

The loans in the offering are currently being serviced by JPMorgan Chase (JPM).

The loans are being marketed as two geographically diversified pools and are offered via an auction process.

All eligible bidders, including private investors, minority and women-owned businesses, nonprofits and neighborhood advocacy funds are encouraged to bid, Freddie Mac said.

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.

Bids are due from qualified bidders on Oct. 6. and the sale is expected to settle in December.

Advisors to Freddie Mac on the transaction are JPMorgan Securities, Bank of America Merrill Lynch and First Financial Network.

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