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Washington, D.C. – The Federal Housing Finance Agency (FHFA) today released its first report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Report includes NPL sales data through May 31, 2016 and preliminary outcomes for borrowers through December 31, 2015. NPL sales reduce the number of severely delinquent loans in the Enterprises’ portfolios and the rules are subject to FHFA requirements that encourage NPL buyers to prioritize outcomes for borrowers other than foreclosure.
“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 Melvin L. 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,” said Watt.
The report shows that, as of the end of May of this year, the Enterprises have sold over 41,600 NPLs with a total unpaid principal balance of $8.5 billion.
The outcomes in the report are based on only the 8,849 NPLs that were sold by June 30, 2015 and reflect outcomes only through December 31, 2015. This preliminary outcome information suggests the following:
Future NPL Sales Reports are expected to be published twice each year.
Link to Non-Performing Loan Sales Report
Link to NPL page on FHFA.gov (Guidelines, etc.)
Media: Corinne Russell (202) 649-3032 / Stefanie Johnson (202) 649-3030
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