Freddie Mac sells off $305 million in seriously delinquent mortgages

Freddie Mac announced late Friday that it sold $305 million in seriously delinquent loans from its mortgage investment portfolio.

The sale, which was initially announced last month, was completed via auction, with two pools containing 1,611 total loans being sold to a pair of buyers.

According to Freddie Mac, these loans have been delinquent for approximately two years, on average.

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