More than a billion dollars in single-family loans that were previously non-performing are being moved from Freddie Mac’s balance sheet to a securitized trust.

On Wednesday, the Federal Home Loan Mortgage Corp. announced that approximately $1.45 billion in re-performing loans are being securitized through its Seasoned Loans Structured Transaction program.

The transaction is the fifth SLST issuance since the program’s 2016 launch and the biggest SLST securitization this year for the McLean, Virginia-based organization.

Source: Mortgage Daily