MCLEAN, VA – April 28, 2015 – (RealEstateRama) — Freddie Mac (OTCQB: FMCC) today announced an upcoming auction of a $233 million Standard Pool Offering. The pool is offered as a single pool of geographically diverse deeply delinquent non-performing loans (NPLs) which are currently serviced by Ocwen Loan Servicing, LLC.
Bids are due from qualified bidders on May 20, 2015 and the sale is expected to settle in July 2015.
All eligible bidders, including private investors, minority and women owned businesses (MWOBs), non-profits and neighborhood advocacy funds are encouraged to bid. The winning bidder will be determined on the basis of economics, subject to meeting Freddie Mac’s internal reserve levels. To participate, all potential bidders are required to be approved by Freddie Mac to access the secure data room containing information about the NPLs and to bid on the NPL pool.
Advisors to Freddie Mac on the transaction are Bank of America Merrill Lynch, Wells Fargo Securities, LLC and CastleOak Securities, L.P., an MWOB.
Additional information about the company’s NPL sales is at http://www.freddiemac.com/npl/.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blogFreddieMac.com/blog.
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