Freddie Mac Sells $188 Million in Non-Performing Loans
Freddie Mac (OTCQB: FMCC) has announced the sale of 982 deeply delinquent non-performing residential first lien loans (NPLs) from its mortgage-related investments portfolio. The loans, with a balance of approximately $188 million, are currently serviced by Select Portfolio Servicing Inc., NewRez , and Nationstar Mortgage The transaction is expected to settle in November 2024 and is part of Freddie Mac's Standard Pool Offerings (SPO®).
The winning bidder for the SPO pool is J.P. Morgan Mortgage Acquisition Corp. The pool consists of geographically diverse properties with an average loan balance of $191,700 and an average delinquency of 32 months. Approximately 57% of the aggregate pool balance comprises previously modified mortgages that subsequently became delinquent.
This sale is part of Freddie Mac's ongoing efforts 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 982 prestiti residenziali in grave insolvenza (NPL) dal suo portafoglio di investimenti legati ai mutui. I prestiti, con un saldo di circa 188 milioni di dollari, sono attualmente gestiti da Select Portfolio Servicing Inc., NewRez e Nationstar Mortgage. La transazione è prevista per novembre 2024 ed è parte delle Offerte di Pool Standard di Freddie Mac (SPO®).
Il vincitore della gara per il pool SPO è J.P. Morgan Mortgage Acquisition Corp. Il pool è composto da proprietà geograficamente diverse con un saldo medio del prestito di $191.700 e un'insolvenza media di 32 mesi. Circa il 57% del saldo complessivo del pool è costituito da mutui precedentemente modificati che poi sono diventati insolventi.
Questa vendita fa parte degli sforzi di Freddie Mac per ridurre gli attivi meno liquidi nel suo portafoglio di investimenti legati ai mutui. Dal 2011, Freddie Mac ha venduto 10,3 miliardi di dollari di NPL e ha titolarizzato circa 79,3 miliardi di dollari di prestiti ri-performanti (RPL).
Freddie Mac (OTCQB: FMCC) ha anunciado la venta de 982 préstamos residenciales en grave incumplimiento (NPL) de su cartera de inversiones relacionadas con hipotecas. Los préstamos, con un saldo de aproximadamente $188 millones, son actualmente administrados por Select Portfolio Servicing Inc., NewRez y Nationstar Mortgage. Se espera que la transacción se cierre en noviembre de 2024 y forma parte de las Ofertas de Pool Estándar de Freddie Mac (SPO®).
El postor ganador del pool SPO es J.P. Morgan Mortgage Acquisition Corp. El pool consiste en propiedades geográficamente diversas con un saldo promedio de préstamo de $191,700 y un incumplimiento promedio de 32 meses. Aproximadamente el 57% del saldo total del pool comprende hipotecas que fueron modificadas previamente y que posteriormente se volvieron incumplidas.
Esta venta es parte de los esfuerzos continuos de Freddie Mac para reducir activos menos líquidos en su cartera de inversiones relacionadas con hipotecas. Desde 2011, Freddie Mac ha vendido 10.3 mil millones de dólares en NPL y ha titulado aproximadamente 79.3 mil millones de dólares en préstamos de rendimiento (RPL).
프레디 맥 (OTCQB: FMCC)은 주택 관련 투자 포트폴리오에서 982건의 심각한 연체 비활동 주택 담보 대출(NPL)의 매각을 발표했습니다. 이 대출의 잔액은 약 $188백만이며, 현재 Select Portfolio Servicing Inc., NewRez 및 Nationstar Mortgage에서 서비스되고 있습니다. 거래는 2024년 11월에 완료될 예정이며, 이는 프레디 맥의 표준 풋 오퍼링(SPO®)의 일환입니다.
SPO 풀의 당첨 입찰자는 J.P. Morgan Mortgage Acquisition Corp입니다. 이 풀은 평균 대출 잔액이 $191,700이고 평균 연체 기간이 32개월인 지리적으로 다양한 자산으로 구성되어 있습니다. 총 풀 잔액의 약 57%는 이전에 수정된 모기지로, 이후 연체된 것입니다.
이번 판매는 프레디 맥이 모기지 관련 투자 포트폴리오에서 유동성이 낮은 자산을 줄이기 위한 지속적인 노력의 일환입니다. 2011년 이후로 프레디 맥은 103억 달러의 NPL을 판매하였고, 약 793억 달러의 재생대출(RPL)을 유동화하였습니다.
Freddie Mac (OTCQB: FMCC) a annoncé la vente de 982 prêts résidentiels profondément en défaut (NPL) de son portefeuille d'investissements liés aux hypothèques. Les prêts, d'un solde d'environ 188 millions de dollars, sont actuellement gérés par Select Portfolio Servicing Inc., NewRez et Nationstar Mortgage. La transaction devrait se régler en novembre 2024 et fait partie des Offres de Pool Standard de Freddie Mac (SPO®).
Le soumissionnaire gagnant du pool SPO est J.P. Morgan Mortgage Acquisition Corp. Le pool comprend des biens géographiquement diversifiés avec un solde moyen de prêt de 191 700 dollars et une moyenne de 32 mois de retard. Environ 57 % du solde total du pool comprend des hypothèques précédemment modifiées qui sont ensuite devenues en défaut.
Cette vente fait partie des efforts continus de Freddie Mac pour réduire les actifs moins liquides dans son portefeuille d'investissements liés aux hypothèques. Depuis 2011, Freddie Mac a vendu pour 10,3 milliards de dollars de NPL et titrisé environ 79,3 milliards de dollars de prêts en cours de performance (RPL).
Freddie Mac (OTCQB: FMCC) hat den Verkauf von 982 stark säumigen nicht leistungsfähigen Wohnhypotheken(Darlehens) (NPL) aus seinem Hypothekenanlagenportfolio angekündigt. Die Darlehen haben einen Saldo von ca. 188 Millionen US-Dollar und werden derzeit von Select Portfolio Servicing Inc., NewRez und Nationstar Mortgage verwaltet. Die Transaktion soll im November 2024 abgeschlossen werden und ist Teil von Freddie Macs Standard Pool Angeboten (SPO®).
Der erfolgreiche Bieter für den SPO-Pool ist J.P. Morgan Mortgage Acquisition Corp. Der Pool besteht aus geografisch vielfältigen Immobilien mit einem durchschnittlichen Darlehenssaldo von 191.700 US-Dollar und einer durchschnittlichen Zahlungsrückstandsdauer von 32 Monaten. Etwa 57 % des Gesamtpool-Saldos besteht aus zuvor modifizierten Hypotheken, die anschließend säumig wurden.
Dieser Verkauf ist Teil von Freddie Macs fortlaufenden Bestrebungen, weniger liquide Vermögenswerte in seinem Hypothekenanlagenportfolio zu reduzieren. Seit 2011 hat Freddie Mac insgesamt 10,3 Milliarden US-Dollar in NPLs verkauft und etwa 79,3 Milliarden US-Dollar an wieder leistungsfähigen Darlehen (RPLs) securisiert.
- Sale of $188 million in non-performing loans, potentially improving Freddie Mac's portfolio quality
- Successful auction with J.P. Morgan Mortgage Acquisition Corp as the winning bidder
- Part of a larger strategy that has sold $10.3 billion of NPLs and securitized $79.3 billion of RPLs since 2011
- High delinquency rate with an average of 32 months for the loans in the pool
- 57% of the pool balance consists of previously modified mortgages that became delinquent again
Awards SPO Pool to One Winner
MCLEAN, Va., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced it sold via auction 982 deeply delinquent non-performing residential first lien loans (NPLs) from its mortgage-related investments portfolio. The loans, with a balance of approximately
The loans in the SPO® offering were offered as one pool of mortgage loans. The pool consists of mortgage loans secured by geographically diverse properties.
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 57 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 SPO pool and winning bidder is summarized below:
| Description | Pool #1 |
| Unpaid Principal Balance | |
| Loan Count | 982 |
| BPO-weighted* CLTV (in %) | 45 |
| UPB-weighted CLTV (in %) | 53 |
| Average Months Delinquent | 32 |
| Average Loan Balance (in | 191.7 |
| Geographical Distribution | National |
| Winning Bidder | J.P. Morgan Mortgage Acquisition Corp. |
| Cover Bid Price (% of UPB) (second-highest bid price) | Low 100s 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 (FMCC) in this transaction?
Who won the auction for Freddie Mac's (FMCC) Standard Pool Offerings (SPO) of non-performing loans?
When is the Freddie Mac (FMCC) non-performing loan transaction expected to settle?
What is the average delinquency period for the loans in Freddie Mac's (FMCC) non-performing loan pool?
