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DS News Webcast: Monday 8/17/2015

As they promised earlier this year, Fannie Mae and Freddie Mac have intensified their efforts in the last few months to rid their single-family residential mortgage portfolios of deeply delinquent, non-performing loans. Freddie Mac just announced it is marketing a bundle of NPLs with $1.2 billion  in aggregate unpaid principal balance, the largest NPL sale to date. It is Freddie Mac's sixth NPL sale of the year and the seventh overall. Including yesterday's NPL transaction, Freddie Mac has offered nearly $4 billion worth of NPL sales over the last 13 months

Meanwhile, Fannie Mae closed its first-ever bulk NPL sale in May. That transaction included approximately 3,000 deeply delinquent residential single-family mortgage loans totaling about 762 million dollars in UPB. In mid-July, Fannie Mae began marketing another bulk NPL sale with nearly 4,000 loans and $788 million  in UPB. A Fannie Mae spokesperson said the goal of NPL sales is to be able to offer borrowers additional options to avoid foreclosure while also reducing the number of seriously delinquent loans in Fannie Mae’s portfolio.

Forecasters expect U.S. economic growth to slow down slightly over the next four years as unemployment remains steady. According to the Q3 2015 Survey of Professional Forecasters by the Federal Reserve Bank of Philadelphia, the forecasters predict real GDP will grow 2.8 percent in 2016, 2.6 percent in 2017, and 2.4 percent in 2018. Meanwhile, the unemployment rate is predicted to average 5.3 percent for 2015 and will inch downward until 2018, when it is predicted to be at 4.7 percent.

About Author: Jordan Funderburk


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