Freddie Mac

On September 25, 2025, Freddie Mac (FMCC) announced an auction of approximately $487 million in non-performing residential first lien whole loans. The sale includes four Standard Pool Offerings (SPO) and one Extended Timeline Pool Offering (EXPO), targeting different investor sizes. Bids are due October 16 (SPO) and October 30 (EXPO). The move aims to reduce less-liquid assets. Since 2011, Freddie Mac has sold $10.7 billion in NPLs.

Freddie Mac priced its $284.2 million SLST Series 2025-1, comprising $262.9 million in government-backed senior certificates and $21.3 million in non-guaranteed subordinate notes, to enhance mortgage portfolio liquidity and share risk with private investors. Collateralized by 1,891 seasoned mortgages (≤150 days delinquent), the deal settles May 28, 2025. Part of its structured credit strategy, Freddie Mac has securitized $80.3 billion since 2011, aided by advisors BofA Securities and Wells Fargo. Senior tranches target low-risk investors, while subordinated notes offer higher returns. The transaction reflects ongoing efforts to optimize capital, reduce balance sheet risk, and comply with post-2008 reforms.