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Tag Archives: Deeply Delinquent Mortgage Loans

Fannie Mae Sells More Delinquent Loans to Non-Profit

Government agencies have have taken a lot of heat from advocacy groups, civil rights groups, and lawmakers in the last few months over the sales of delinquent mortgages to private investors. Fannie Mae went another route with its latest sale.

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Advocates Defend Castro, But. . .

One housing advocacy group has defended the HUD Secretary against recent criticisms that he is not qualified to be vice president of the United States. At the same time, however, the group said HUD could stand to make some changes.

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Freddie Mac Completes NPL Sale With $591 Million in UPB

About 28 percent of the aggregate pool balance consisted of previously modified mortgages that subsequently became delinquent, according to Freddie Mac. The transaction is part of Freddie Mac's Standard Pool Offerings (SPOs) and is expected to settle sometime in mid-September.

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Freddie Mac Sells Third Non-Performing Loan Bundle of 2015

The deeply delinquent status of the loans, which are three years delinquent on average, indicates that the borrowers have already been evaluated for or are in some stage of loss mitigation, or are in some stage of foreclosure. Twenty-nine percent of the loans in the pool were loans that were modified that later became delinquent.

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Freddie Mac Puts NPL Pool Worth $233 Million Up for Auction

The loans being offered in the pool are deeply delinquent and are geographically diverse. All the loans in the pool are currently being serviced by Ocwen Financial. Bids are due from qualified bidders for the pool on May 20 and the sale is expected to settle sometime in July.

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