Freddie sells first offering of delinquent home loans

|About: Freddie Mac (FMCC)|By:, SA News Editor

Freddie Mac (OTCQB:FMCC) has sold $659M of soured mortgages in its first offering of such debt. Twenty-two potential buyers participated in the auction, which was directed by affiliates of Bank of America.

It didn’t disclose the price, and won’t be naming the buyer, according to spokesman Tom Fitzgerald.

Monthly disclosures show that the company held $169.1B of loans as of this past June 30.