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Freddie Mac auctions $22.4M of nonperforming loans

Freddie Mac has auctioned 113 deeply delinquent nonperforming loans worth $22.4 million to VRMTG ACQ LLC.

The loans are serviced by New Penn Financial LLC, which does business as Shellpoint Mortgage Servicing.

The sale is part of Freddie Mac's extended timeline pool offering. The transaction is expected to settle in May.

Freddie Mac's advisers on the transaction are J.P. Morgan Chase LLC and The Williams Capital Group LP.