Fannie Mae Announces Sale of Reperforming Loans
Fannie Mae (OTCQB: FNMA) has announced a new sale of reperforming loans as part of its strategy to reduce its retained mortgage portfolio.
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Rhea-AI Summary
Fannie Mae (OTCQB: FNMA) has announced a new sale of reperforming loans as part of its strategy to reduce its retained mortgage portfolio. The sale package includes approximately 3,141 loans with an unpaid principal balance of $559.8 million.
The sale, marketed in collaboration with Citigroup Global Markets, Inc., will accept bids until March 26, 2025. Buyers must commit to specific terms, including:
- Offering loss mitigation options to borrowers who default within 5 years post-sale
- Honoring existing approved or in-process loss mitigation efforts
- Providing delinquent borrowers with loss mitigation options, including possible principal forgiveness, before initiating foreclosure
Positive
- Portfolio optimization through sale of $559.8M in reperforming loans
- Risk reduction in retained mortgage portfolio
Negative
- Reduction in interest-earning assets from portfolio
Details
News Market Reaction – FNMA
The recorded move for FNMA in the trading session of this news was +3.76%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The sale consists of approximately 3,141 loans, having an unpaid principal balance of approximately
This sale of reperforming loans is being marketed in collaboration with Citigroup Global Markets, Inc. Bids are due on March 26, 2025.
Reperforming loans are loans that have been or are currently delinquent but have reperformed for a period of time. The terms of Fannie Mae's reperforming loan sale require the buyer to offer loss mitigation options to any borrower who may re-default within five years following the closing of the reperforming loan sale. All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including loan modifications. In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.
Interested bidders can register for ongoing announcements, training, and other information here. Fannie Mae will also post information about specific pools available for purchase on that page.
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SOURCE Fannie Mae
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