Sell Offs Continue: Freddie Mac Sells $667 Million in NPLs To Private Investors

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Sell Offs Continue: Freddie Mac Sells $667 Million in NPLs To Private Investors

Mar, 28th 2017

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.

Last year, for example,...

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