Fannie Mae's NPL transactions require the loan owner to market the property exclusively to owner-occupants and non-profits before offering it to investors when foreclosure cannot be prevented.
Read More »Elizabeth Warren Leads Protest of Agency NPL Practices
Warren and Capuano are trying to prevent the delinquent mortgage loans from being acquired by investors who are quick to foreclose on them. The lawmakers would rather see the loans acquired by non-profits who would be more likely to engage in the loss mitigation process with borrowers and prevent foreclosure.
Read More »Freddie Mac Completes Largest Deeply Delinquent Loan Sale Ever at $1.1 Billion
Approximately 33 percent of the aggregate pool balance consisted of loans that were modified and later became delinquent. The aggregate pool has a loan-to-value ratio of approximately 91.1 based on broker price opinion and is geographically diverse, according to Freddie Mac.
Read More »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.
Read More »Fannie Mae’s First Community Impact NPL Pool Goes to New Jersey Non-Profit
The smaller Community Impact Pool consists of 75 high-occupancy and geographically focused loans with about $11 million in unpaid principal balance (UPB). The transaction is expected to close on October 26, 2015, according to Fannie Mae.
Read More »Second Fannie Mae NPL Sale Completed for $765 Million
Fannie Mae announced the winning bidder for its second-ever sale of deeply delinquent non-performing loans (NPLs) on Thursday, which included approximately 3,900 loans.
Read More »Fannie Mae and Freddie Mac Are Turning Up Efforts to Sell Non-Performing Loans
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 (NPLs).
Read More »Freddie Mac to Auction $1.2 Billion Worth of Deeply Delinquent NPLs
The NPLs in this transaction are being serviced by Ocwen Financial, according to Freddie Mac. The loans are deeply delinquent, which means in many cases they are delinquent by two years or more and are likely either in foreclosure or some stage of loss mitigation.
Read More »Bank of America Offering Five Pools of Delinquent Loans For Sale Worth $1.2 Billion
Bank of America is offering five pools of residential mortgage loans for sale totaling $1.2 billion that range in status from current to modified to non-performing.
Read More »Latest Fannie Mae NPL Sale Includes Smaller ‘Community Impact’ Pool
This sale includes two larger pools and a Community Impact Pool, which is a smaller geographically-focused, high occupancy pool. Fannie Mae is marketing the Community Impact Pool to encourage bidding by nonprofits and minority- and women-owned businesses (MWOB).
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