A fairly big portfolio of non-performing mortgages that were acquired by a government-sponsored enterprise are being marketed for an upcoming auction.

Being offered for sale to the highest bidder are $655 million in single-family loans that were originally underwritten and closed for the Federal Home Loan Mortgage Corp.

The mortgages, which are divided into three pools, are seasoned, non-performing whole loans. The loans are currently being serviced by Specialized Loan Servicing LLC.

Source: Mortgage Daily