Subject to market conditions, Freddie Mac plans to periodically sell and securitize seasoned performing loans (SPLs) and re-performing loans (RPLs). These transactions are an important tool for the company to more effectively manage risk on its mortgage-related investments portfolio.
Freddie Mac's RPL Pcs include:
Modified Fixed Rate PCs (M-pools)
Freddie Mac Gold PCs backed by modified fixed rate loans that have been current for at least 6 months at issuance.
Modified Step Rate PCs (H-pools)
Freddie Mac Gold PCs backed by modified step rate loans that have been current for at least 6 months at issuance.
Reinstated PCs (R-pools)
Freddie Mac Gold PCs backed by non-modified fixed rate loans that were once delinquent, but have been reinstated and current for at least 4 months at issuance.
Additional information can be found on Freddie Mac's Mortgage Securities page.
Freddie Mac's RPL Sales Pilot Requirements are applicable only to the sale of RPLs and SPLs where servicing is not subject to Freddie Mac's Single-Family Seller/Servicer Guide. The requirements build on and incorporate the enhanced Non-Performing Loan Sale guidelines that were announced in April 2016 to prioritize non-foreclosure resolutions and neighborhood stability outcomes in the event of future delinquencies on these mortgages.