Freddie Mac announced this week that it is selling off $655 million in non-performing loans, as the government-sponsored enterprise continues to clear deeply delinquent loans off its books.
In the last several years, both Freddie Mac and Fannie Mae have undertaken efforts to shed non-performing loans from their portfolios as part of an effort to decrease the risk on the taxpayers.
To date, Freddie Mac has sold off $7 billion of NPLs.
And now, Freddie Mac is getting rid of some more loans.
According to the GSE, the loans in this sale are currently being serviced by Specialized Loan Servicing.
The NPLs are being marketed in four pools: three Standard Pool Offerings, and one Extended Timeline Pool Offering, which targets participation by smaller investors, including nonprofits and minority or women-owned businesses.
Freddie Mac’s advisors on the sale are Wells Fargo Securities, and The Williams Capital Group, a minority-owned business.