Skip to main content

FHFA Releases Report on GSEs’ NPL Sales

Phil Hall
Jun 30, 2016
The first quarter of this year saw mortgage servicers arranging 319,000 non-foreclosure solutions for distressed homeowners

During the first five months of this year, Fannie Mae and Freddie Mac sold more than 41,600 non-performing loans (NPLs) with a total unpaid principal balance of $8.5 billion, according to new data released by the Federal Housing Finance Agency (FHFA).

The FHFA report found that the NPLs sold by the government-sponsored enterprises (GSEs) had an average delinquency of 3.4 years and an average current loan-to-value ratio of 98 percent. Nearly half of the loans came from three states—New Jersey, Florida and New York—while a single nonprofit organization, Community Loan Fund of New Jersey, was the winning bidder on five of six small, geographically concentrated pools sold and was a service provider for the sixth pool.

“This report reflects the first available results since the enterprises started to sell NPLs and since we put in place enhanced requirements for servicing these loans,” said FHFA Director Mel Watt. “The report demonstrates our commitment to transparency as we work to achieve more favorable outcomes for borrowers and for the enterprises by providing alternatives to foreclosure whenever possible. Because the program is new, we have only preliminary data about outcomes to share, but we will continue to provide regular reports as we gain new outcome information.”

Published
Jun 30, 2016
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021