CORRECTION - Freddie Mac Announces Standard and Extended Timeline Pool Offerings
(firmenpresse) - MCLEAN, VA -- (Marketwired) -- 07/08/15 -- In the news release, "Freddie Mac Announces Standard and Extended Timeline Pool Offerings" issued earlier today by Freddie Mac (OTCQB: FMCC), we are advised by the company that the first paragraph figure [$632.2 million] should be [$624.1 million] and the second paragraph figure [$608.2 million] should be [$600.2 million]. Complete corrected text follows.
Freddie Mac Announces Standard and Extended Timeline Pool Offerings
MCLEAN, VA -- July 8, 2015 -- Freddie Mac (OTCQB: FMCC) today announced a $624.1 million non-performing loan (NPLs) transaction, an auction of deeply delinquent loans from its mortgage investment portfolio.
These are being offered as four pools, including three Standard Pool Offering offerings (SPO(SM)) for a total of $600.2 million and a single Extended Timeline Pool Offering (EXPO(SM)) for $23.9 million. The EXPO pool is comprised of NPLs that are 100% concentrated in Cook County, Illinois. The NPLs are currently serviced by CitiMortgage Inc.
Bids are due from qualified bidders on July 28, 2015 on the SPO pools and August 18, 2015 on the EXPO pool.
All eligible bidders, including private investors, minority and women owned businesses (MWOBs), non-profits and neighborhood advocacy funds are encouraged to bid. The winning bidder will be determined on the basis of economics, subject to meeting Freddie Mac''s internal reserve levels. To participate, all potential bidders are required to be approved by Freddie Mac to access the secure data room containing information about the NPLs and to bid on the NPL pool.
Advisors to Freddie Mac on the transaction are Citigroup Global Markets Inc., Credit Suisse Securities and The Williams Capital Group, L.P., an MWOB.
Additional information about the company''s NPL sales is at .
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation''s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at , Twitter and Freddie Mac''s blog .
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Datum: 08.07.2015 - 16:44 Uhr
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News-ID 1371053
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