Investors interested in non-performing loans have an opportunity to pick up loans from the Federal Home Loan Mortgage Corp.
Four pools of deeply delinquent, non-performing loans are being offered for sale by Freddie Mac through the auction process.
The loans, which currently reside in the McLean, Virginia-based company’s investment portfolio, total $600.2 million.
Freddie noted that CitiMortgage Inc. is the current servicer on the loans.
Qualified bids are due by July 28.
In addition, the secondary lender said it is offering a single extended time-line pool offering for $23.9 million.
All of the loans in the EXPO pool are non-performing and secured by properties concentrated in Cook County, Illinois.
Freddie is accepting EXPO bids until Aug. 18.
“The winning bidder will be determined on the basis of economics, subject to meeting Freddie Mac’s internal reserve levels,” the announcement said.