Freddie Mac is auctioning $327 million of delinquent nonperforming loans.
The loans are marketed as two geographically diversified pools and are offered via an auction process. JPMorgan Chase is the servicer of the loans.
Bids are due Oct. 6 and the sale is expected to close in December.
JPMorgan Securities, Bank of America Merrill Lynch and First Financial Network are financial advisers on the offering.
The rule rescission, one of many the Consumer Financial Protection Bureau is planning, would officially remove temporary steps for mortgages added in 2021.
Rocktop Management anticipates rising loan origination volume and increasing borrower distress, driving more servicing sales — key reasons behind its acquisition of Incenter Capital Advisors.
The Virginia man filed a false tax return in 2021 claiming an $18.3 million refund, working with a co-conspirator to defraud a real estate agent.
Servicing profit offset origination losses for some companies, but more than 40% were unprofitable, according to the Mortgage Bankers Association.
Lenders using an automated process can save up to $1,500 per loan but do they have the capacity to pass those through to applicants as the FHFA director asks?
CSBS hires veteran regulatory expert, Selene welcomes two new executives, Polly grows C-suite, Leaderone finds new president, plus more mortgage moves.
