Freddie Mac Sells Third Non-Performing Loan Bundle of 2015. Team Thayer Official. #Foreclosure #REO #Bankownedhomes
F reddie Mac has sold its third bundle of seriously delinquent single-family mortgage loans of 2015 via auction, according to an announcement from Freddie Mac on Tuesday afternoon. The winning bidder was LSF9 Mortgage Holdings, LLC. The sale included 1,052 non-performing loans serviced by Ocwen Financial with an aggregate unpaid principal balance (UPB) of $201 million. The loans were offered for sale in a single pool. The loans were sold on May 21 and the transaction is expected to close in July. The cover bid price, which was the second highest bid, fell in the mid-70s percent of the UPB for the pool of loans. The weighted average BPO was 93 percent, average loan size was $191,177, and the note rate was 5.28 percent, according to Freddie Mac. The deeply delinquent status of the loans, which are three years delinquent on average, indicates that the borrowers have already been evaluated for or are in some stage of loss mitigation, or are in some stage of for...