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Tag Archives: Non-Performing Loans

Report: Freddie Mac to Sell $1 Billion Worth of Non-Performing Mortgage Loans

Freddie Mac's conservator, the Federal Housing Finance Agency (FHFA), is requiring Freddie Mac and its fellow GSE, Fannie Mae, to reduce the number of non-performing residential loans in their portfolios. This will be Freddie Mac's third sale of nonperforming loans since last summer. In August, the Enterprise sold a bundle of NPLs totaling $596 million and one in February that covered $392 in UPB. Sales of NPLs by the two Enterprises generally include loans that are seriously delinquent, which are those that are 90 days or more past due.

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FHFA’s Actions Increase Emphasis on Removing GSEs’ Non-Performing Loans

Recent actions by the Federal Housing Finance Agency (FHFA) indicate that the Agency is placing an increased emphasis on the clearing out of Fannie Mae's and Freddie Mac's seriously delinquent loan portfolios and steering more borrowers toward foreclosure prevention and loss mitigation actions, using foreclosure only as an absolute last resort.

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FHFA Enacts New Rules for Sales of Non-Performing GSE Loans

In an ongoing effort to reduce the number of non-performing loans (NPLs) in the portfolios of Fannie Mae and Freddie Mac and transfer risk to the private sector, the GSEs' conservator, the Federal Housing Finance Agency (FHFA), on Monday announced enhanced requirements for the sales of NPLs by the GSEs. Freddie Mac has sold severely delinquent loans through two transactions in the past six months, one that totaled $596 million in unpaid balance (UPB) in August 2014 and one in February 2015 that covered $392 in UPB.

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Sale of Delinquent Whole Loans Creating Hot Market for Investors

In recent months, institutional investors seem to prefer buying non-performing loans instead of more solvent ones, according to David LeBlanc, managing director of capital markets at DebtX. His company is the world’s largest online loan sale advisor for buyers and sellers of commercial, consumer, and specialty finance debt.

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