For the SPO® offering, the loans were offered as one pool of mortgage loans. The pool consists of mortgage loans secured by geographically diverse properties.
Given the delinquency status of the loans, the borrowers have likely been evaluated previously for loss mitigation, including modification or other alternatives to foreclosure, or are in foreclosure. Mortgages that were previously modified and subsequently became delinquent comprise approximately 47 percent of the aggregate pool balance. Additionally, purchasers are required to honor the terms of existing loss mitigation agreements and solicit distressed borrowers for additional assistance except in limited cases and ensure all pending loss mitigation actions are completed.
The SPO pool and winning bidder is summarized below:
Description | Pool #1 |
Unpaid Principal Balance | |
Loan Count | 679 |
BPO-weighted* CLTV (in %) | 42 |
UPB-weighted CLTV (in %) | 52 |
Average Months Delinquent | 29 |
Average Loan Balance (in $000s) | 152.8 |
Geographical Distribution | National |
Winning Bidder | |
Cover Bid Price (% of UPB) (second-highest bid price) | Around 100s Area |
*Broker Price Opinions (BPOs)
Advisors to
Freddie Mac’s seasoned loan offerings focus on reducing less-liquid assets in the company’s mortgage-related investments portfolio in an economically sensible way. This includes sales of NPLs, securitizations of re-performing loans (RPLs) and structured RPL transactions. Since 2011,
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