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Secondary Market

Freddie Mac Offering Pool of JPMorgan-Serviced NPLs

According to Freddie Mac, the SPO of JPMorgan-serviced loans are being marketed as two geographically diversified pools that are offered via auction, with bids due from qualified bidders on October 6. Freddie Mac said the sale is expected to settle in December 2015.

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Conservatorship Continues Seven Years Later With No End In Sight

While many housing stakeholders and lawmakers agree that the conservatorship needs to end, the issue of the GSEs' future remains a source of contention. Some of the GSEs' biggest investors, such as Fairholme Funds and Pershing Square, have filed lawsuits over the sweeping of GSE profits into Treasury, which began in 2012 when Fannie Mae and Freddie Mac returned to profitability.

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Moody’s Upgrades $1 Billion Worth of Fannie Mae and Freddie Mac RMBS

The note holders for these transactions are not entitled to receive cash from the mortgage loans in the reference pools, unlike typical RMBS transactions. Rather, the performance of the mortgage loans in the reference pool determines the timing and amount of principal and interest the GSEs are obligated to pay on the notes.

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