GSEs Steadily Sell off NPL Assets

WASHINGTON, DC—Freddie Mac has just sold 1,611 non-performing loans via auction that are expected to settle in December 2015, while Fannie Mae has just announced it is marketing three pools of such loans loans totaling $1.2 billion in unpaid principal balance.

The winning bidders for the latest Freddie Mac NPL sale were Pretium Mortgage Credit Partners and Bayview Acquisitions LLC. Freddie Mac doesn’t provide the final winning bid but does make publicly available the cover bid price, or second highest bid price, which in this case was in the low $80s for the pool that Pretium acquired and the low $50s for the pool that Bayview acquired.