Freddie Mac has dramatically increased its presence in the burgeoning subprime mortgage market, assisting in a $407.4 million securitization last week by First Union Capital Markets Corp.

The offering, backed by more than 7,500 first and second mortgages originated or acquired by divisions of First Union Corp., Charlotte, N.C., is its largest subprime securitization with Freddie Mac.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.