Freddie Mac Sells Delinquent Mortgage Loans Worth $3.8 Million at Auction
Freddie Mac sold 25 non-performing home loans worth about $3.8 million at auction to Igloo Series VII Trust, with settlement expected in December 2026.
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what happened
Freddie Mac said it sold 25 deeply delinquent residential mortgages through an auction, with an unpaid principal balance of roughly $3.8 million. The buyer was Igloo Series VII Trust. Selene Finance LP services the loans, settlement is expected in December 2026, and marketing began on September 16, 2026.
According to a release published on GlobeNewswire, the borrowers have likely already been evaluated for loss mitigation or are in foreclosure. About 49% of the pool balance consists of mortgages that were modified earlier and later became delinquent. The loans are concentrated in Texas. Buyers must honor existing loss mitigation agreements and reach out to distressed borrowers for further help. The company said its cover bid was in the low-to-mid 90s as a percentage of unpaid principal.
why it matters
For the market this is a small transaction, but it shows how Freddie Mac is reducing less liquid assets in its mortgage portfolio. Since 2011 the company has sold $11.4 billion of non-performing loans, which matters to investors in mortgage-backed securities.
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instruments
sources
- Freddie Mac Sells $3.8 Million in Non-Performing Loans — globenewswire.com, 28 October 2026 at 16:39 UTC
- Freddie Mac Sells $3.8 Million In Non-Performing Loans — Reuters, 28 October 2026 at 17:25 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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