Freddie Mac plans to bundle pools of once-delinquent mortgages, calling the strategy "a new avenue for securitization." The mortgages to be used as collateral are re-performing loans, current for the last 12 months. However, the mortgages are not modified and the government-sponsored enterprise did not specify the loss-mitigation strategies used to bring the loans current. The reinstated loans will be pooled into new Freddie Mac participation certificates with the "R" prefix. These certificates may back new Freddie Mac REMIC and Giant securities in the future, the company said in a statement Thursday. The structured finance pooling will start immediately, though over the course of time loans current for as low as four months may be added to future securitizations. "By securitizing mortgage loans that were delinquent but reinstated to performing status, Freddie Mac will provide additional needed liquidity to the market using our traditional mortgage security vehicles," said Mark Hanson, Freddie Mac vice president of securitization and cash execution. The mortgages are listed as performing, but Freddie Mac said some are still distressed. The mortgage financing giant will continue to pursue resolutions of the delinquencies while the mortgages are held in the portfolio. "This capability represents an important step in Freddie Mac's disposition strategy for its distressed asset portfolio," said Adama Kah, vice president of distressed assets management. "These securitizations will achieve the key goals of developing liquidity, flexibility and scalability while conserving value for the taxpayer." Additionally, Freddie Mac said it will not issue a reference notes security in November. Write to Jacob Gaffney. Follow him on Twitter @jacobgaffney.