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Freddie and Fannie Sell Your Home Loans to Vultures for Pennies on Dollar: Vultures Pick the Bones of Distressed American Homeowners

Findsen Law

Freddie Mac Kicks Off 2016 with Largest Ever Delinquent Loan Auction article here:

The transaction announced on Friday is Freddie Mac’s third bulk NPL sale worth more than $1 billion. The previous two were worth $1.1 billion each. Overall, it will be Freddie Mac’s ninth bulk Standard Pool Offering (SPO) auction since the first sale closed in August 2014 and the two EXPOs will be the second and third sold. Freddie Mac’s first-ever EXPO sold in June via auction to Corona Asset Management, and included 157 deeply delinquent loans with an aggregate UPB of about $31 million.

Everybody loses!  And by “everybody” I mean you, if you’re an American homeowner, because everybody else is making out like a bandit while killing home values and throwing homeowners on the street after stripping their last dollar.   The investors were paid. And Freddie Mac  and Fannie Mae didn’t lose because they…

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