Fannie Mae selling $1.2B in non-performing loans

Fannie Mae completes the quality control loan file review and determines the mortgage is not acceptable because of a selling deficiency that the Selling or Servicing Guide specifically identifies may be cured and the lender cures such deficiency to Fannie Mae’s satisfaction in the time frame and manner specified in the Selling or Servicing.

WASHINGTON, Oct. 11, 2017 /PRNewswire/ — Fannie Mae FNMA, -0.35% today announced its latest sale of non-performing loans, including the company’s ninth and tenth community impact Pools.

The GSE NPL sales program gives investors the opportunity to profit from investing in non-performing loans from Fannie Mae and Freddie Mac and maximizing the number of loans they can get to re-perform. Freddie Mac and Fannie Mae (the GSEs) have been selling non-performing loans (NPLs) since 2014 and 2015, respectively, to reduce their holdings of less liquid non-performing assets and gain.

The new program, called Extended Timeline Pool Offering, or EXPO, will target smaller investors by making smaller pools of non-performing loans available in addition to the larger pools of NPLs that.

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As of the end of June 2017, Fannie Mae and Freddie Mac had sold over 82,000 mortgages with a total unpaid principal balance of $16 billion. The loans included in NPL sales are generally severely delinquent. Loans already sold have been, on average, three years delinquent.

 · WASHINGTON (4/6/15)–Fannie Mae will begin selling pools of nonperforming single-family mortgages, the government-sponsored enterprise announced last week. According to the organization, in the future similar transactions will be targeted for purchase by nonprofit organizations, smaller investors and minority and women-owned businesses.

WASHINGTON, Feb. 14, 2017 /PRNewswire/ — Fannie Mae (OTC Bulletin Board: FNMA) today announced its latest sale of non-performing loans, including the.

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Personal Unsecured Loans. Personal unsecured loans are not an acceptable source of funds for the down payment, closing costs, or financial reserves. Examples of personal unsecured loans include signature loans, lines of credit on credit cards, and overdraft protection on checking accounts.

Non-Performing Loan Sales. In an effort to reduce substantial inventories of non-performing loans (NPLs) and improve borrower outcomes, in 2014 FHFA approved a pilot program by Freddie Mac to sell NPLs and later approved sales of NPLs by both Enterprises.. Fannie Mae Non-Performing Loan Sales.

In this latest sale, Fannie Mae is selling off $124.12 million in non-performing loans. The sale was originally announced in October.