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New York

Freddie Mac aims to get back in the black by selling modified loans

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Borrowers who had their mortgages modified after the 2008 housing crash have recovered enough to have their notes sold by Freddie Mac for $292 million to Towd Point Master Funding. The loans have an average balance of $231,100 and are valued at 101 percent of the loan amount according to broker priced opinions, Housing Wire reported. This is part of Freddie Mac’s long-term strategy to lessen its riskier assets.  [Housing Wire]