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Freddie Mac To Sell $1B of Nonperforming Loans

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Freddie Mac To Sell $1B of Nonperforming Loans

Freddie Mac is selling three pools of nonperforming loans totaling $1B in its biggest debt sale yet. The pools include $660M, $249M and $125, with the smallest batch all connected to New York homes and the others geographically diverse. It's the government agency's third sale of delinquent loans and comes at a time when bidders are making higher offers amid a resurging housing market. The Federal Housing Finance Agency recently introduced new guidelines for the sales of soured loans as it pushes government companies to take them off their books. [Bloomberg]