A portfolio of deeply delinquent residential loans has been sold through the auction process by the Federal Home Loan Mortgage Corp.

The McLean, Virginia-based firm began marketing the nonperforming mortgages on Feb. 16. Originally there were five pools with $759 million in loans.

On Friday, Freddie Mac disclosed that it successfully sold four pools with 3,621 loans that have an aggregate unpaid principal balance of $667 million.

Source: Mortgage Daily