As its fellow government-sponsored enterprise did earlier in the week, Freddie Mac announced Friday that it is selling hundreds of millions of dollars in non-performing loans to a familiar series of private investors.
First, it was Fannie Mae’s turn to sell off 9,400 non-performing loans that carry an unpaid principal balance of $1.68 billion.
Then, Freddie Mac announced that it is selling 3,621 non-performing loans that carry an unpaid principal balance of $667 million.
In the sale, which Freddie Mac first announced last month, three private investors bought up the non-performing loans.
All three of the winning bidders, Pretium Mortgage Credit Partners I Loan Acquisition, Upland Mortgage Acquisition Company II, and Rushmore Loan Management Services, are repeat buyers of NPLs from Fannie Mae and Freddie Mac.