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Home » Store » News » Freddie Mac to Auction Seriously Delinquent Loans

Freddie Mac to Auction Seriously Delinquent Loans

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Three pools of seriously delinquent mortgages with a total unpaid principal balance of $410 million will be auctioned off by Freddie Mac. The delinquent pools, with unpaid principal balances of $160 million, $141 million and $109 million, will be offered through Mission Capital Advisors, the broker in the deal, according to a Bloomberg report. Competitive bidding will end on Feb. 4. A large chunk of the loans are two years past due, the report noted. Freddie spokesman Tom Fitzgerald declined to provide further details, saying information at this stage of the deal is provided solely to prospective bidders. He said details on the results will be provided after auction. The transaction is the second of such sales for Freddie in ...
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