Freddie Mac posts second NPL sale of 2016


Freddie Mac announced it is planning a $135 million non-performing loan transaction, marking its second sale of 2016.

The first sale of the year was listed for a whopping $1.6 billion in January.

The NPLs are currently serviced by JPMorgan Chase Bank and are offered as one pool.

Bids are due from qualified bidders on May 25, and the sales are expected to settle in the third quarter of 2016.

The winning bidder will be determined on the basis of economics, subject to meeting Freddie Mac’s internal reserve levels.

Advisors to Freddie Mac on the transaction are JPMorgan Securities, Credit Suisse Securities and First Financial Network.

In April, the Federal Housing Finance Agency announced new rules for the investors that buy non-performing loans from Fannie Mae and Freddie Mac.

The new rules are “further enhancements” to the NPL buyer requirements it announced just over a year ago.

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