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Freddie Mac Dumps More Than $1 Billion in Delinquent Mortgages
Monday, August 17, 2015 6:35 AM

Freddie Mac announced a $1.2 billion auction of deeply delinquent nonperforming loans held in its mortgage investment portfolio.

The loans are being marketed as five geographically diversified pools. Bids are due from qualified bidders Sept. 9. The sale is expected to settle in October.

The loans are serviced by Ocwen Loan Servicing LLC.

Source:  SNL Financial, 13 August 2015