Freddie Mac sells 1,968 non-performing loans with $428 million balance via auction
FMCC•Freddie Mac sold 1,968 non-performing first-lien residential loans with about $428 million in unpaid principal balance through an auction.
1. Auction results
VRMTG ACQ won three pools totaling $388.7 million, and Igloo Series VII Trust won one pool with a $39.3 million balance. Cover bid prices ranged from the mid-80s to mid-90s as a percentage of unpaid principal balance. The loans were marketed from Sept. 16, and the transaction is expected to settle in December 2026.
2. Next offering
Freddie Mac set an Oct. 23 bid deadline for its next, smaller Extended Timeline Pool Offering.
