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Enterprise Non-Performing Loan Sales Report

Enterprise Non-Performing Loan Sales Report - December 2021

Published: 7/11/2022

​​​​​​​​​​​​​The Enterprise Non-Performing Loan Sales Report includes information about NPLs sold through December 31, 2021 and reflects borrower outcomes on NPLs sold through June 30, 2021 and reported through December 31, 2021.  The sale of NPLs reduces the number of delinquent loans in the Enterprises' portfolios and transfers credit risk to the private sector.  FHFA and the Enterprises impose
​​req​​uirements​​ on NPL buyers designed to achieve more favorable outcomes for borrowers than foreclosure. 

This report provides information about the Enterprises' sales of NPLs and borrower outcomes post-sale. The report contains the following key information:

  • Quantity and attributes of NPLs sold from August 1, 2014 through December 31, 2021.
  • Borrower outcomes as of December 31, 2021 on NPLs sold through June 30, 2021.
  • Borrower outcomes post-sale compared to a benchmark of similarly delinquent Enterprise NPLs that were not sold.
  • Pool level information and outcomes, including the buyers of the NPLs*.
​​

This report shows that, through December 31, 2021, the Enterprises have sold 154,972 loans with an aggregate unpaid principal balance (UPB) of $28.7 billion, an average delinquency of 2.8 years, and an average mark-to-market loan-to-value ratio of 86 percent, not including capitalized arrearages​.​​

*​ The outcomes of a Freddie Mac pilot sale in August 2014 are not included in this report because the transaction was executed before FHFA issued NPL sales and reporting requirements.

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