Freddie Mac Sells $13.9 Million in Non-Performing Loans
Freddie Mac (OTCQB: FMCC) has announced the sale of 57 deeply delinquent non-performing residential first lien loans (NPLs) to Residential Credit Opportunities X, The loans, valued at approximately $13.9 million, are part of Freddie Mac's Extended Timeline Pool Offerings (EXPO). The transaction is expected to settle in December 2024.
The sale includes two EXPO pools: Pool #1 with an unpaid principal balance of $9.2 million and 32 loans, and Pool #2 with $4.7 million and 25 loans. The loans are currently serviced by Select Portfolio Servicing Inc. Purchasers are required to honor existing loss mitigation agreements and solicit distressed borrowers for additional assistance.
This sale is part of Freddie Mac's strategy to reduce less-liquid assets in its mortgage-related investments portfolio. Since 2011, Freddie Mac has sold $10.3 billion of NPLs and securitized approximately $79.3 billion of re-performing loans (RPLs).
Freddie Mac (OTCQB: FMCC) ha annunciato la vendita di 57 prestiti residenziali di primo grado in grave insolvenza (NPL) a Residential Credit Opportunities X. I prestiti, valutati a circa $13,9 milioni, fanno parte delle Offerte di Pool con Timeline Estesa (EXPO) di Freddie Mac. La transazione è prevista per dicembre 2024.
La vendita comprende due pool EXPO: Pool #1 con un saldo del capitale non pagato di $9,2 milioni e 32 prestiti, e Pool #2 con $4,7 milioni e 25 prestiti. I prestiti sono attualmente gestiti da Select Portfolio Servicing Inc. Gli acquirenti sono tenuti a rispettare gli accordi di mitigazione delle perdite esistenti e a contattare i debitori in difficoltà per ulteriore assistenza.
Questa vendita fa parte della strategia di Freddie Mac per ridurre gli attivi meno liquidi nel suo portafoglio di investimenti legati ai mutui. Dal 2011, Freddie Mac ha venduto prestiti NPL per un valore di $10,3 miliardi e ha cartolarizzato circa $79,3 miliardi di prestiti ripristinati (RPL).
Freddie Mac (OTCQB: FMCC) ha anunciado la venta de 57 préstamos residenciales de primer gravamen en grave incumplimiento (NPL) a Residential Credit Opportunities X. Los préstamos, valorados en aproximadamente $13.9 millones, son parte de las Ofertas de Agrupaciones con Línea de Tiempo Extendida (EXPO) de Freddie Mac. Se espera que la transacción se complete en diciembre de 2024.
La venta incluye dos agrupaciones EXPO: Agrupación #1 con un saldo de capital impago de $9.2 millones y 32 préstamos, y Agrupación #2 con $4.7 millones y 25 préstamos. Los préstamos son actualmente gestionados por Select Portfolio Servicing Inc. Los compradores deben respetar los acuerdos de mitigación de pérdidas existentes y contactar a los prestatarios en dificultades para brindarles asistencia adicional.
Esta venta es parte de la estrategia de Freddie Mac para reducir activos menos líquidos en su cartera de inversiones hipotecarias. Desde 2011, Freddie Mac ha vendido $10.3 mil millones en NPL y ha titulado aproximadamente $79.3 mil millones en préstamos reactivados (RPL).
프레디 맥(Freddie Mac) (OTCQB: FMCC)은 주거용 첫째 담보 대출(실패 대출) 57건을 Residential Credit Opportunities X에 판매한다고 발표했습니다. 약 $13.9 백만 달러로 평가된 이 대출은 프레디 맥의 연장 타임라인 풀 오퍼(EXPO)의 일부입니다. 거래는 2024년 12월에 이루어질 것으로 예상됩니다.
판매에는 두 개의 EXPO 풀이 포함되어 있습니다: 풀 #1은 미지급 원금 잔액이 $9.2 백만 달러이며 32건의 대출이 포함되어 있고, 풀 #2는 $4.7 백만 달러에 25건의 대출이 포함되어 있습니다. 현재 이 대출은 Select Portfolio Servicing Inc.에서 서비스되고 있습니다. 구매자는 기존 손실 완화 계약을 준수하고, 추가 지원을 위해 어려움에 처한 차용인에게 도움을 요청해야 합니다.
이번 판매는 프레디 맥의 주택 관련 투자 포트폴리오에서 유동성이 낮은 자산을 줄이려는 전략의 일환입니다. 2011년 이후, 프레디 맥은 $10.3 백억 달러의 NPL을 판매했고, 약 $79.3 백억 달러의 재구성된 대출(RPL)을 증권화했습니다.
Freddie Mac (OTCQB: FMCC) a annoncé la vente de 57 prêts résidentiels de premier rang en situation de défaut (NPL) à Residential Credit Opportunities X. Les prêts, d'une valeur d'environ $13,9 millions, font partie des Offres de Pool avec un calendrier prolongé (EXPO) de Freddie Mac. La transaction devrait être finalisée en décembre 2024.
La vente comprend deux pools EXPO : Pool #1 avec un solde principal impayé de 9,2 millions de dollars et 32 prêts, et Pool #2 avec 4,7 millions de dollars et 25 prêts. Les prêts sont actuellement gérés par Select Portfolio Servicing Inc. Les acheteurs sont tenus de respecter les accords de mitigation des pertes existants et de solliciter les emprunteurs en difficulté pour obtenir une assistance supplémentaire.
Cette vente fait partie de la stratégie de Freddie Mac visant à réduire les actifs moins liquides dans son portefeuille d'investissements liés aux prêts hypothécaires. Depuis 2011, Freddie Mac a vendu des NPL pour un montant de 10,3 milliards de dollars et a titrisé environ 79,3 milliards de dollars de prêts reperformants (RPL).
Freddie Mac (OTCQB: FMCC) hat den Verkauf von 57 stark überfälligen nicht leistungsfähigen Wohnungsfirstlinienkrediten (NPL) an Residential Credit Opportunities X angekündigt. Die Kredite, die auf etwa $13,9 Millionen geschätzt werden, sind Teil von Freddies Erweiterte Fristen Pool-Angeboten (EXPO). Die Transaktion soll im Dezember 2024 abgeschlossen werden.
Der Verkauf umfasst zwei EXPO-Pools: Pool #1 mit einem unbezahlten Kapitalbetrag von $9,2 Millionen und 32 Krediten, sowie Pool #2 mit $4,7 Millionen und 25 Krediten. Die Kredite werden derzeit von Select Portfolio Servicing Inc. verwaltet. Die Käufer sind verpflichtet, bestehende Verlustminderungsvereinbarungen einzuhalten und betroffene Kreditnehmer um zusätzliche Unterstützung zu bitten.
Dieser Verkauf ist Teil von Freddies Strategie, weniger liquide Vermögenswerte in seinem Hypothekeninvestitionsportfolio abzubauen. Seit 2011 hat Freddie Mac Kredite im Wert von $10,3 Milliarden verkauft und etwa $79,3 Milliarden an wieder performanten Krediten (RPL) verbrieft.
- Sale of $13.9 million in non-performing loans, reducing less-liquid assets
- Continued progress in seasoned loan offerings strategy
- Requirements for purchasers to honor existing loss mitigation agreements
- Presence of deeply delinquent loans in Freddie Mac's portfolio
Awards EXPO® Pools to One Winner
MCLEAN, Va., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced it sold via auction 57 deeply delinquent non-performing residential first lien loans (NPLs) from its mortgage-related investments portfolio to Residential Credit Opportunities X, LLC. The loans, with a balance of approximately
Given the delinquency status of the loans, the borrowers have likely been evaluated previously for loss mitigation, including modification or other alternatives to foreclosure, or are in foreclosure. Mortgages that were previously modified and subsequently became delinquent comprise approximately 66 percent of the aggregate pool balance. Additionally, purchasers are required to honor the terms of existing loss mitigation agreements and solicit distressed borrowers for additional assistance except in limited cases and ensure all pending loss mitigation actions are completed.
The EXPO pools and winning bidders are summarized below:
| Description | EXPO Pool #1 | EXPO Pool #2 |
| Unpaid Principal Balance | ||
| Loan Count | 32 | 25 |
| BPO-weighted* CLTV (in %) | 47 | 49 |
| UPB-weighted CLTV (in %) | 53 | 54 |
| Average Months Delinquent | 42 | 37 |
| Average Loan Balance (in | 287 | 190 |
| Geographical Distribution | New York | Florida |
| Winning Bidder | Residential Credit Opportunities X, LLC | Residential Credit Opportunities X, LLC |
| Cover Bid Price (% of UPB) (second-highest bid price) | High 80’s Area | Mid 90’s Area |
| *Broker Price Opinions (BPOs) | ||
Advisors to Freddie Mac on the transaction are Citigroup Global Markets Inc. and First Financial Network, Inc., a woman-owned business.
Freddie Mac’s seasoned loan offerings focus on reducing less-liquid assets in the company’s mortgage-related investments portfolio in an economically sensible way. This includes sales of NPLs, securitizations of re-performing loans (RPLs) and structured RPL transactions. Since 2011, Freddie Mac has sold
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube
MEDIA CONTACT: Fred Solomon
703-903-3861
Frederick_Solomon@freddiemac.com
FAQ
What is the total value of non-performing loans sold by Freddie Mac in this transaction?
When is the settlement date for Freddie Mac's FMCC non-performing loan sale?
Who purchased the non-performing loans from Freddie Mac FMCC?
How many EXPO pools were included in Freddie Mac's FMCC October 2024 NPL sale?
What is the total value of NPLs sold by Freddie Mac FMCC since 2011?
