Freddie Mac Announces $2.3B Loan Sale

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Freddie Mac NPL RPL Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago November 18, 2019 1,831 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Navigating Loss Mitigation in a Low-Default Landscape Next: Mortgage Servicing: A “People Business” Servicers Navigate the Post-Pandemic World 2 days ago Freddie Mac NPL RPL 2019-11-18 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Freddie Mac Announces $2.3B Loan Sale Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. About Author: Seth Welborn in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Freddie Mac Announces $2.3B Loan Sale Related Articles Freddie Mac announced pricing of the fourth Seasoned Credit Risk Transfer Trust (SCRT) offering of 2019—a rated securitization of approximately $2.3 billion including both guaranteed senior and unguaranteed subordinate securities backed by a pool of seasoned re-performing loans (RPLs).Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4 includes approximately $2.1 billion in guaranteed senior certificates and approximately $229 million in unguaranteed mezzanine and subordinate certificates. The transaction is expected to settle on November 14, 2019. The underlying collateral consists of 12,347 fixed- and step-rate, seasoned RPLs which were modified to assist borrowers who were at risk of foreclosure to help them keep their homes. As of the cutoff date, all of the mortgage loans have been performing for at least 12 months.The loans are serviced by Select Portfolio Servicing, Inc. and will be serviced in accordance with requirements pdf that prioritize borrower retention options in the event of default and promote neighborhood stability.Advisors to this transaction are Wells Fargo Securities, LLC and Citigroup Global Markets Inc. as co-lead managers and joint bookrunners, and BofA Securities, Inc., Nomura Securities International, Inc., J.P. Morgan Securities LLC, and Samuel A. Ramirez & Company, Inc. (a minority-owned business) as the co-managers.To date, Freddie Mac has sold $8 billion of Non-Performing Loans (NPLs) and securitized approximately $57 billion of RPLs consisting of $29 billion of fully guaranteed PCs, $23 billion of SCRT senior/sub securitizations, and $6 billion of Seasoned Loans Structured Transaction (SLST) offerings. The GSE’s previous NPL transaction included 2,243 NPLs from its mortgage-related investments portfolio. The loans, with a balance of approximately $369 million, are currently serviced by Specialized Loan Servicing LLC.  The transaction is expected to settle in January 2020. The sale is part of Freddie Mac’s Standard Pool Offerings.Winning bidders of this sale were InSolve Global Credit Fund IV, L.P. for Pool 1, VRMTG ACQ, LLC for Pools 2 and 3, Truman 2016 SC6, LLC for Pool 4. Subscribe Share Save Sign up for DS News Daily last_img read more