Freddie Mac late last week revealed that it sold a $659 million package of what it calls “deeply” delinquent loans from its investment portfolio – a first for the government-sponsored enterprise. Co-advisers on the competitive bid auction include Bank of America Merrill Lynch and Credit Suisse Securities. Freddie noted that the sale was conducted at the end of July “and executed indirectly through Bank of America affiliates.” However, the GSE declined to identify the buyer or provide any pricing information. “The transaction was...