FreddieMac reached a binding commitment to sell via auction 846 seasonedloans that it currently guarantees and holds in its mortgage-relatedinvestments portfolio.
The transaction is expected to settle in October.
The loans have an unpaid principalbalance of $198.9 million and were serviced by JP Morgan Chase Bank NA.
Upon completion of collateral due diligence, , thewinning bidder, will purchase and simultaneously securitize the loans.
Credit Suisse Securities (USA) LLC, J.P. Morgan SecuritiesLLC and First Financial Network Inc. served as advisers to Freddie Mac on thetransaction.