Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Freddie Mac    FMCC

FREDDIE MAC

(FMCC)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Freddie Mac Sells $18 Million of NPLs in Extended Timeline Pool

10/19/2020 | 04:06pm EST

MCLEAN, Va., Oct. 19, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced it sold via auction 101 non-performing residential first lien loans (NPLs) serviced by Specialized Loan Servicing LLC to VRMTG ACQ, LLC, a minority and woman owned business. The sale is part of Freddie Mac’s Extended Timeline Pool Offering (EXPO®) and the transaction is expected to settle in December 2020. Freddie Mac, through its advisors, began marketing the transaction on September 8, 2020 to potential bidders, including non-profit organizations and Minority, Women, Disabled, LGBT, Veteran or Service-Disabled Veteran-Owned Businesses (MWDOBs), neighborhood advocacy organizations and private investors active in the NPL market.

Given the delinquency status of the loans, the borrowers have likely been previously evaluated for or are already in various stages of loss mitigation, including modification or other alternatives to foreclosure, or are in foreclosure. Mortgages that were previously modified and subsequently became delinquent comprise approximately 73.6 percent of the pool balance. Also, purchasers are required to honor the terms of existing loss mitigation agreements and solicit distressed borrowers for additional assistance except in limited cases and ensure all pending loss mitigation actions are completed.

The pool and winning bidder are summarized below:

DescriptionEXPO Pool
Unpaid Principal Balance$18.4 million
Loan Count101
CLTV Range (in %)All
BPO-weighted* CLTV (in %)66
Average Months Delinquent22
Average Loan Balance (in $000s)$185.0
Geographical DistributionFlorida
Winning BidderVRMTG ACQ, LLC
Cover Bid Price (% of UPB)
(second-highest bid price)
Low 80s Area

*Broker Price Opinions (BPOs)

Advisors to Freddie Mac on the transaction are Wells Fargo Securities, LLC and First Financial Network, Inc., a woman-owned business.

Freddie Mac’s seasoned loan offerings are focused on reducing less-liquid assets in the company’s mortgage-related investments portfolio in an economically sensible way. This includes sales of NPLs, securitizations of re-performing loans (RPLs) and structured RPL transactions.

To date, Freddie Mac has sold over $8.4 billion of NPLs and securitized more than $66.5 billion of RPLs consisting of (i) $29.0 billion in fully guaranteed PCs, (ii) $28.3 billion in Seasoned Credit Risk Transfer (SCRT) senior/sub securitizations, and (iii) $9.3 billion in Seasoned Loan Structured Transaction (SLST) offerings. Requirements guiding the servicing of these transactions are focused on improving borrower outcomes and stabilizing communities. Additional information about the company's seasoned loan offerings can be found at: http://www.freddiemac.com/seasonedloanofferings/

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT: Fred Solomon
703-903-3861
Frederick_Solomon@freddiemac.com

Primary Logo


© GlobeNewswire 2020
All news about FREDDIE MAC
11/26FEDERAL NATIONAL MORTGAGE ASSOCIATIO : Structured Finance Association Asks Treas..
AQ
11/25FREDDIE MAC : US mortgage rates stay at record low 2.72% for 30 years
AQ
11/25FREDDIE MAC : US mortgage rates stay at record low 2.72% for 30 years
AQ
11/25FREDDIE MAC : Mortgage Rates Hold Steady Heading into the Thanksgiving Holiday
AQ
11/25Mortgage Rates Hold Steady Heading into the Thanksgiving Holiday
GL
11/24FREDDIE MAC : Issues Monthly Volume Summary for October 2020
AQ
11/24Freddie Mac Issues Monthly Volume Summary for October 2020
GL
11/24Yellen Will Confront a Cooling Economic Recovery, Uncertain Stimulus Prospect..
DJ
11/23FEDERAL NATIONAL MORTGAGE ASSOCIATIO : Fannie Mae And Freddie Mac Extend COVID-1..
AQ
11/20Financials Down As "Risk-On" Mood In Markets Falters -- Financials Roundup
DJ
More news
Financials (USD)
Sales 2020 12 475 M - -
Net income 2020 -356 M - -
Net Debt 2020 - - -
P/E ratio 2020 -23,5x
Yield 2020 -
Capitalization 8 311 M 8 311 M -
Capi. / Sales 2020 0,67x
Capi. / Sales 2021 0,69x
Nbr of Employees 6 892
Free-Float 89,6%
Chart FREDDIE MAC
Duration : Period :
Freddie Mac Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FREDDIE MAC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 3,38 $
Last Close Price 2,58 $
Spread / Highest target 171%
Spread / Average Target 30,8%
Spread / Lowest Target -80,6%
EPS Revisions
Managers
NameTitle
David M. Brickman President, Chief Executive Officer & Director
Sara Mathew Non-Executive Chairman
Christian Mark Lown Chief Financial Officer & Executive Vice President
Frank Nazzaro Chief Information Officer & Executive VP
Saiyid T. Naqvi Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
FREDDIE MAC-14.11%8 311
CHAILEASE HOLDING COMPANY LIMITED22.46%8 613
PRA GROUP, INC.17.05%1 937
ECN CAPITAL CORP.28.60%1 161
TCG BDC, INC.-18.24%616
AUSTRALIAN FINANCE GROUP LIMITED-8.79%480