Freddie Mac Homes For Sale

Freddie Mac periodically sells seriously delinquent non-performing loans (”NPLs”) it owns via competitive auctions. NPL sales are an important tool for the company to more effectively manage credit losses on its delinquent loan portfolio.

  1. Freddie Mac Homes For Sale In Missouri
  2. Freddie Mac Homes For Sale In Florida
  3. Freddie Mac Homes For Sale Nj

Overview

Freddie Mac determines the loan criteria for potential sale and works with its legacy servicers to identify loans that meet the selection criteria. Freddie Mac controls all pooling and auction related decisions, and such decisions must be consistent with FHFA requirements and guidelines governing NPL sales by Government Sponsored Enterprises (GSEs).

Pools will be offered in two forms:

For
  1. Standard Pool Offering (”SPO”): These pools are generally large, geographically diverse pools, although they may be geographically concentrated. The typical marketing period between transaction announcement and bid due date is 3 weeks.

  2. Extended Timeline Pool Offering (”EXPO”): These pools are generally smaller in size, and may or may not be geographically concentrated. The marketing period will be approximately two weeks longer than the typical marketing period for SPOs. This is intended to provide smaller potential investors extra time to secure funds to participate in the auctions.

All eligible bidders, including private investors, MWDOBs (Diverse Investors), non-profits and neighborhood advocacy funds, are encouraged to participate in all of Freddie Mac's NPL offerings – both SPOs and EXPOs. Winning bidders are chosen on the basis of price and are subject to meeting Freddie Mac's reserve levels.

How to Participate

Real Estate Professionals Working with HomeSteps Supplier Diversity Prospective Listing Brokers Prospective Vendors Supplier Community Registration Vendor Application Form Offers & Incentives Freddie Mac First Look Initiative Homebuyers: Making an Offer Agents: Submitting an Offer. Michigan Freddie Mac Foreclosure Real Estate Listings. The second largest mortgage investor, Freddie Mac, has hundreds of mortgage foreclosure homes for sale in Michigan. For the first 30 day a home is listed on their HomeSteps website, it can only be purchased by a buyer who plans to occupy the home as their primary residence.

Potential bidders in any offering must complete a:

  • Non-Disclosure Agreement (NDA)

and meet the bidder and servicer qualification requirements. Document links provided here are example forms only. Actual qualification documents will be provided after each offering’s announcement.

Freddie Mac Homes For Sale

Interested potential investors may register to request to be added to the distribution list for Freddie Mac’s NPL offerings. All new offerings will be publicly announced and identified on the Freddie Mac website shortly after launch.

Bidder and Servicer Qualification Requirements

To participate in an offering, potential bidders are required to be approved by Freddie Mac to both access the secure data room containing information about the NPLs and to bid on the NPL pool(s):

Freddie Mac Homes For Sale In Missouri

  • Data Room Pre-access Qualification Requirements.
    1. A signed bidder Non-Disclosure Agreement.
    2. Attestation, among other things, (1) that bidder is not currently disbarred or suspended from doing business by any federal, state or local government agency, and (2) that bidder has adequate experience managing a portfolio of single-family mortgage loans or securities.
    3. Proof of adequate funds to purchase the pool(s) they propose to bid.
    4. A complete Servicer Due Diligence Questionnaire (DDQ) by the bidder’s proposed new servicer.
  • Approval to bid is contingent upon, among other things:
    1. A background check of bidder’s owners of 10% or more, and capital providers and their owners of 10% or more.
    2. Freddie Mac’s review of Pre-Access Qualification (PAQ) documentation and approval of bidder’s requested servicer.

Freddie Mac Homes For Sale In Florida

If a pool is awarded, the winning bidder is required to make a non-refundable good faith deposit within two business days of notice of win.

Freddie Mac Homes For Sale Nj

In the event that an auction winner either (i) fails to pay the deposit or (ii) fails to close on the transaction, Freddie Mac reserves the right to deny that auction winner from participating in future transactions.