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Freddie Mac begins securitizing $1B performing HAMP loans

Freddie Mac begins securitizing $1B performing HAMP loans

Freddie Mac launched the process of securitizing $1 billion performing Home Affordable Modification Program (HAMP) loans that were once at risk of foreclosure, but are now in good standing after going through the government’s HAMP program.

The Treasury launched HAMP back in March 2009, and has since helped 229,000 borrowers, giving them permanent modifications on Freddie-Mac-owned loans.

The HAMP securitizations include modified loans that are “reperfoming into Freddie Mac Mortgage Participating Certificates.”

This process allows the GSE to create more liquidity as well as transparency when it comes to the pricing for HAMP loans, said Adama Kah, Freddie Mac’s vice president of distressed assets management.

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