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Freddie Mac sells $962.7M of delinquent loans

FreddieMac has sold 5,364 deeply delinquent nonperforming loans from itsmortgage investment portfolio.

The transaction is expected to settle in December, andservicing will be transferred post-settlement. The loans have been delinquentfor almost two years, on average.

The loans, which are currently serviced by either WellsFargo Bank NA or Ditech Financial LLC, have an unpaid principal balance of$962.7 million.

Wells Fargo Securities LLC and First Financial Network Inc.advised Freddie Mac on the transaction.