Fannie Mae has announced the initiation of its latest sale of reperforming loans, marking a significant step in the organization’s strategy to streamline its retained mortgage portfolio. A news release noted the offering includes approximately 8,721 loans with an unpaid principal balance of around $1.429 billion, now available for qualified bidders.
The sale, managed in collaboration with Citigroup Global Markets, Inc., is part of Fannie Mae’s ongoing efforts to enhance its financial stability while ensuring responsible lending practices. Bids for the reperforming loans must be submitted by October 29, 2024.
Fannie Mae has started marketing its reperforming loans to reduce its retained mortgage portfolio. Reperforming loans are those that were previously delinquent but are now current on payments, with or without a loan modification plan.
Source: mpamag.com